EUR/USD Finally Breaks Support to Reach 1.0965/45
2023.05.17 05:22
Trade ideas:
Currency Pairs Signals
finally broke support to 1.0965/45 for a sell signal to target 1.0880/70 (hit on Friday).
We have resistance at 1.0890/1.0900 (& you should be short here with a high for the day at 1.0904). Shorts need stops above 1.0920.
EUR/USD Chart
If we unexpectedly continue higher, expect strong resistance at 1.0940/60. Shorts need stops above 1.0980.
Shorts at 1.0890/1.0900 can target 1.0850/45 (a low for the day only 3 pips above here yesterday), perhaps as far as 1.0820/00, where a low for the day is certainly possible.
I think longs are risky, but if you try, stop below 1.0785 & look for a 50-pip profit.
A break lower can target 1.0730/20.
double top sell signal certainly worked & AT LAST, WE HIT MY BUYING OPPORTUNITY AT 1.4600/1.4580 WITH A LOW FOR THE DAY EXACTLY HERE.
IT WAS WORTH THE WAIT!!
EUR/CAD Chart
Longs need stops below 1.4560.
Targets for longs: 1.4670, 1.4700, 1.4750.
strong resistance at 1.7535/65. Shorts need stops above 1.7585.
Targets: 1.7450, 1.7420 & perhaps as far as 1.7350.
A buying opportunity at 1.7240/20. Longs need stops below 1.7190.
EUR/NZD Chart
shorts at yesterday’s high for the day exactly at strong resistance at 1.2525/40 are working & we should eventually retest Friday’s low at 1.2445/40.
Targets for shorts: 1.2445 & perhaps as far as 1.2360.
GBP/USD Chart
shorts at 9030/40 worked perfectly with a high for the day exactly here & a collapse towards the April low at 8950/40 for profit taking.
longs at support at 1.8610-00 worked after we held this support when tested for 4 days in a row, as we edge slowly higher.
We can try a long on another retest this week. We do have a minor support at 1.8700/1.8680, which could be worth trying a long, with stop below 1.8660.
Longs at 1.8610-00 need stops below 1.8570.
Targets: 1.8680, 1.8750
has strong support at 164.45/25. Longs need stops below 167.95.
