EUR/USD, USD/CAD Daily Forecast: December 12 , 2019

EUR/USD we wrote: holding resistance at 1.1095/1.1105 perfectly on the bounce. Shorts here need stops above 1.1120. A break higher targets strong resistance at 1.1150/60.

We topped just 6 pips below. Use 1.1140/50 as a selling opportunity now.

USD/CAD shorts at resistance at 1.3250/60 worked perfectly as we collapse at last below 1.3220/10, targeting an excellent buying opportunity at 1.3150/40, with stops below 1.3120.

EURUSD try shorts at strong resistance at 1.1140/50 with stops above 1.1170, to target 1.1120 then first support at 1.1110/00. Eventually we could break lower to strong support at 1.1085/75 for some profit taking on shorts. If we continue lower exit all remaining shorts at 1.1055/45.

Be ready to buy a break above 1.1170 initially targeting 1.1215/25 then 1.1265/75.

USDCAD shorts offered up to 100 pips on the sell off towards an excellent buying opportunity at 1.3150/40 with stops below 1.3120. A break lower is an important sell signal targeting 1.3100/90 & 1.3050/40.

Longs at 1.3150/40 target 1.3190/95 & 1.3215/20. Expect strong resistance at 1.3250/60 for profit taking on all remaining longs.


Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is neutral

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