EUR/USD, USD/CAD Daily Analysis – April 30, 2020

EUR/USD still trading sideways! We bottomed exactly at 1.0825/15 and bounced to resistance at 1.0865/75.

USD/CAD shorts at 1.4000/10 worked if you were lucky enough to sell here and as predicted we broke 1.3940/30 targeting 1.3905/00 then 1.3870/60 for a potential 130 pips profit.

Today’s Analysis

EUR/USD potential scalping levels are 1.0825/15 and 1.0790/80 with support at the April low at 1.0735/25. Stop below 1.0700.

Resistance at 1.0865/75. Shorts need stops above 1.0900. A break higher targets 1.0930/40.

USD/CAD hits our lower target of 1.3870/60 and a sustained break below the April low at 1.3850 targets 1.3810/00 with minor support at 1.3950/40.

Holding weak support at 1.3870/60 (we are severely oversold in the short term) allows a recovery to 1.3910/20 with strong resistance at 1.3960/70.

  • Trends
  • Weekly outlook is neutral
  • Daily outlook is neutral
  • Short Term outlook is neutral
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