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EUR/USD, USD/CAD And GBP/CAD Daily Forecast

By Jason SenForexApr 19, 2021 06:33AM ET

www.investing.com/analysis/eurusd-usdcad-and-gbpcad-daily-forecast-200573855

By Jason Sen | Apr 19, 2021 06:33AM ET

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EUR/USD still struggling at 500 week moving average resistance at 1.1970/80. We topped at 1.1994.

USD/CAD trades in an erratic sideways trend. Despite daily ranges of 80 pips or so, last week’s range was only 156 pips.

GBP/CAD strong resistance at 1.7315/25.

Today’s Analysis

EUR/USD topped 14 pips above important 500 week moving average resistance at 1.1970/80. A break higher this week targets resistance at 1.2035/55. Watch for a high for the day. Shorts need stops above 1.2065.

Strong support at 1.1930/20. Watch for a low for the day. If we continue lower expect strong support at 1.1885/75. Watch for a low for the day. Longs need stops below 1.1860.

USD/CAD minor support at 1.2530/20 but below here can target re-target 1.2470/60. A break lower to this week targets 1.2430/20.

Strong resistance at 1.2550/60 and again at important 1 month trend line resistance at 1.2610/20.

GBP/CAD strong resistance at 1.7315/25. Shorts need stops above 1.7340. A break higher targets the 100 day moving average at 1.7380/90. Expect strong resistance at 1.7425/45. Shorts need stops above 1.7460.

Holding strong resistance at 1.7315/25 targets 1.7275/65, perhaps as far as 1.7220/10. Further losses risks a retest of 1.7180/60.

EUR Chart

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

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Hadi Warsito Apr 19, 2021 11:13PM ET

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Nice analysis. Keep posting daily!

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EUR/USD, USD/CAD And GBP/CAD Daily Forecast

Today’s Analysis

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