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

By Jason SenForexApr 21, 2021 06:17AM ET
www.investing.com/analysis/eurusd-usdcad-and-gbpcad-daily-forecast-200574365
EUR/USD, USD/CAD And GBP/CAD Daily Forecast
By Jason Sen   |  Apr 21, 2021 06:17AM ET
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EUR/USD was expected to hold resistance at 1.2075. We topped just 4 pips above here and sold off to 1.2020. It looks likely that further losses will be seen in to the end of the week.

USD/CAD still confusing as we remain in a 1 month sideways trend. Yesterday we shot higher to test 1 month trend line resistance at 1.2610/20.

GBP/CAD bottomed exactly at strong support at 1.7455/45. The pair shot higher as expected to first resistance at 1.7540/44 & almost as far as our upper target of 1.7600/15.

Today’s Analysis

EUR/USD held resistance at 1.2075. A high for the day is likely here if retested today. Shorts need stops above 1.2090. A break higher however targets 1.2105 and trend line resistance at 1.2130/40.

A break below 1.2020 meets first support at 1.1995/85. Below 1.1970 look for the best support for today at 1.1950/40. Longs need stops below 1.1930.

USD/CAD shot higher to test 1 month trend line resistance at 1.2610/20. We topped exactly here which risks a slide to to 1.2890/86 and first support at 1.2565/55. Best support for today at 1.2540/30. Longs need stops below 1.2520.

A break above 1.2630 should signal further gains to 1.2670/75. A break above 1.2680 could be seen as a medium term buy signal, initially targeting 1.2760/70.

GBP/CAD holding 14 pips from the next target of 1.7600/15.

First support at 1.7490/70. Further losses test best support for today at 1.7435/25.

Longs need stops below 1.7410.

EUR Chart
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.

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

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

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