Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View More
EUR/USD, USD/CAD Charts & More

EUR/USD, USD/CAD Charts & More

Paul Robinson,
What's on this page

Technical Outlook:

  • EUR/USD grinding higher, looks poised for more gains
  • USD/CAD on the verge of a confirmed break of support

The EUR/USD isn’t blowing the doors off on the top-side, but is still working its way higher in bullish fashion. If it is to keep on rallying at some point it seems likely we will see momentum begin picking up. Currently the March spike-high is being tested and upon a break of the 11495 level the next targeted resistance line is the 2008 trend-line that is running down over peaks in 2011, 2014, and 2018. To negate a bullish outlook we would need to see a hard break lower towards 11300. Otherwise, short-term dip-buying opportunities could be the way to go for capitalizing on further gains in the Euro.

Top Trading Lessons
Top Trading Lessons
Recommended by Paul Robinson
Find Out the #1 Mistake Traders Make
Get My Guide

EUR/USD Daily Chart (grinding its way towards March high breakout)

EUR/USD daily chart

EUR/USD Chart by TradingView

USD/CAD is currently working on a breakdown out of a range and below support created via several lows that have formed around the 200-day MA over the past month. A close below 13485 should set up for more selling in the days ahead, with the June low next up in focus around 13315. Beneath that point lies a trend-line rising up from 2017 that could also come into play near the 13200 mark. To negate a bearish bias a breakout above 13600 is seen as needing to develop.

USD/CAD Chart (breaking down)

USD/CAD daily chart

USD/CAD Chart by TradingView

For all the charts we looked at, check out the video above…

Resources for Forex Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, and trading guides to help you improve trading performance.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES