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EUR/USD reversed perfectly from strong resistance at the January high and 200-week moving average at 1.1480/1.1500 to hit strong support at 1.1410/00 with a low for the again yesterday.
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USD/CAD loving very strong support at 1.2665/55 as we held all last week and this week so far.
Today's Analysis
EUR/USD longs at strong support at 1.1410/00 were working again today, but needed stops below 1.1385. Next target and support at 1.1350/40. Longs needed stops below 1.1330. Our longs targeted 1.1435 before a retest of strong resistance at the January high and 200-week moving average at 1.1480/1.1500. Shorts needed stops above 1.1515. A break higher this week was a buy signal, of course, initially targeting 1.1555/60, perhaps as far as 1.1580/90.
USD/CAD retested strong support at 1.2670/60. Longs here re-targeted 1.2710/20. If we continued higher, look for a retest of 1.2780/90. Further gains this week test the January high at 1.2810/15. If we continued, higher look for 1.2840/50. Support was at 1.2670/60. A break below 1.2650, however, targeted 1.2630/20, perhaps as far as 1.2690/80.
Video Analysis
