Daily Price Action
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Price Action Setups: USDCAD, EURUSD and EURNZD

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USDCAD made a big move today, closing above the 1.127 handle. This level was the year high, acting as resistance in March and more recently on October 3rd. Now that the pair has closed above this key level, we can begin looking for buy signals to join the trend.

If we move out to the weekly chart, we can also see that the pair formed a bullish inside bar / pin bar combo last week. This gives further credence to today’s move higher.

USDCAD weekly chart

usdcad weekly forex chart

Summary: Watch for bullish price action on a possible retest of the 1.127 key level. The next area of resistance appears to come in around 1.1470, giving us 200 pips to work with.

usdcad daily forex chart

EURUSD analysis

eurusd 4 hour forex chart

EURNZD analysis

eurnzd 4 hour forex chart

 

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