USD/CAD Shot Higher And EUR/USD Topped At Resistance. What’s Next?

EUR/USD And USD/CAD Daily Forecast For Dec 9, 2019

EUR/USD topped exactly at resistance at 1.1095/1.1105.

USD/CAD unexpectedly shot higher to 1.3250/60 which is strong resistance today.

EUR/USD holding resistance at 1.1095/1.1105 as we become overbought short term. Shorts here need stops above 1.1120. A break higher targets strong resistance at 1.1150/60.

Minor support at 1.1060/50, better support at 1.1030/20 could hold the downside. Longs need stops below 1.1010. A break lower is a sell signal targeting 1.1000 and 1.0980.

USD/CAD holding first resistance at 1.3250/60 targets 1.3240/35 and 1.3220/10. On a break below 1.3190 look for an excellent buying opportunity at 1.3150/40 with stops below 1.3120. Shorts at 1.3250/60 need stops above 1.3280. A break higher targets 1.3290 and strong resistance at 1.3320/30.

Trends

Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is neutral

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