EUR/USD: Further gains towards a selling opportunity at 1.0800/20 [Video]

Jason Sen DayTradeIdeas.co.uk

US dollar should continue higher after new buy signals but Bitcoin expected to collapse again.

EURUSD made a high for the day just 8 pips from strong resistance at 1.0800/20 on Friday & hit support at 1.0690/70 for profit taking (only if you had a short & ran it over the weekend of course). Longs at support at 1.0690/70 are starting to work on the bounce to 1.0735. Further gains are possible to 1.0750/60 for profit taking. A high for the day is possible here but a break above 1.0775 signals further gains towards a sell opportunity at 1.0800/20. Shorts need stops above 1.0840.

Support again at 1.0690/70 for profit taking. Longs need stops below 1.0650. Sell a break below 1.0650 targeting 1.0600, perhaps as far as strong support at 1.0510/1.0490.

USDCAD remains very choppy in a sideways trend with no direction - I will wait for a breakout or signal.

The break below support at 1.3380/60 can target 1.3310/00, perhaps as far as the February low at 1.3270/60.

EURCAD shorts at strong resistance at 1.4455/75 worked as we hit the 1.4390/80 target for profit taking but we fell further to strong support at 1.4240/20 (on the trade sheet). Longs are working on the bounce to 1.4315 & can make it as far as minor support at 1.430/40 for some profit taking.

A break above 1.4360 can target strong resistance at 1.4380/1.4400. Shorts need stops above 1.4425.

Strong support at 1.4240/20. Longs need stops below 1.4190.

CADJPY break above 9900 is a buy signal & can target 9990.

Support at 9860/40. Longs need stops below 9810.

GBPUSD should have resistance at 1.2210/30. Shorts need stops above 1.2265.

Support at 1.1960/40 but longs need stops below 1.1920.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

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