Monday’s Forecasts: EUR/USD, USD/CAD, AUD/USD, USD/JPY

EUR/USD remains in a narrow sideways trend as we lose all the 240 pip gains of the first half of the week, by the close on Friday.

USD/CAD break above 1.3020 was a buy signal targeting 1.3040/50 (hit) before we topped at 1.3098 not quite reaching strong resistance at 1.3120/30.

The $ index remains in a 130 pip sideways range for almost 3 weeks and a wider range for 2 months.

DXY 4 Hour Chart

AUD/USD wiped out 2 weeks of 200 pip gains in just 2 days. NZD/USD also wiped out 2 weeks of gains in just 2 days. Unfortunately I did not see this coming & after checking the charts again, I see no signal before the move.

USD/JPY topped 9 pips from first resistance at 106.50/55 to bottom only 6 pips below the first target & 6 week trend line support at 105.70/65.

EUR/JPY wipes out most of the 2 week gains in just 3 days as we break minor support at 130.55/50 to bottom 5 pips above the next target of 130.00/129.90.

WTI Crude trading in a range of 5972-6424 for over 4 weeks.

Emini S&P and Bitcoin to follow shortly.

Today’s Forecasts

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