EUR/USD Stuck In A Sideways Trend

EUR/USD remains in a frustrating sideways trend with key 100 day moving average support at 1.1655/50 and first resistance at 1.1690/1.1700. Shorts need stops above 1.1715. A break higher targets 1.1740/50. Try shorts with stops above 1.1765.

Longs at 1.1655/50 stop below 1.1640. A break lower is a sell signal targeting 1.1610/1.1590. A break below 1.1580 targets 1.1540/30 then a buying opportunity at 1.1490/80, with stops below 1.1460.

USD/CAD topped exactly at our selling opportunity at 1.3380/1.3400 last week.

Holding above 1.3320/10 allows a retest of the selling opportunity at 1.3380/1.3400 with stops above 1.3420. A break higher this week is a buy signal initially targeting 1.3450/60 then 1.3520/40.

A buying opportunity at 1.3275/65 with stops below 1.3245.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Neutral
  • Short Term Outlook Neutral

EUR Chart

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