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FX Majors Overview

Published 2019-01-02, 10:30 a/m
Updated 2023-07-09, 06:32 a/m

To kick off the new year we take a look at the daily charts of EUR/USD, USD/JPY and USD/CAD.

EUR/USD Daily

  • 1.15 is the core focus for traders over the near-term.
  • A series of higher lows within the 1.1216 – 1.1500 range suggests bullish pressure is building.
  • Today has seen an intraday break above the 100-day MA. A clear break of 1.1500 brings the 1.1622 high into focus.

USD/JPY Daily

  • Bearish momentum has dominated since breaking its May trendline.
  • While the trend remains bearish beneath 111.41, we can look for prices retrace or consolidate below 109.77 before its next leg lower.
  • Next major support (and target for bears) is the May low at 108.11.

USD/CAD Daily

  • The trend is retracing from its highs within a bullish channel.
  • Look for prices to consolidate above the June ’17 (1.3547) before bulls have a crack the May ’17 high (1.3793).
  • A break of support warns of a deeper correction within the channel.

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