EUR/USD is trading in a narrow range, and when this happens, we often have nice breakouts. Also in USD/CAD there are diverging indicators. Here is the view from SocGen: Here is their view, courtesy of eFXnews: EUR/USD has breached support at 1.1085 and more importantly the flag formation within which the corrective recovery evolved, notes SocGen. “The correction has achieved our initial target of 1.0940 and is likely to continue towards July lows of 1.08. With weekly indicator at resistance, retest of 1.05/1.04 is not ruled out. 1.1510 should cap upside,” SocGen projects. Turning to USD/CAD, SocGen notes that it almost achieved multiyear channel at 1.35/1.36, also projection for C wave. “Diverging indicators suggest 1.35/1.36 will be an important resistance. Short term retracement has achieved a target for pullback at previous highs of 1.2850. Only a sustained move below would signal a deeper retracement,” SocGen adds. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam EUR/USD Daily share Read Next Is the USD still the cleanest shirt in the dirty Yohay Elam 7 years EUR/USD is trading in a narrow range, and when this happens, we often have nice breakouts. Also in USD/CAD there are diverging indicators. Here is the view from SocGen: Here is their view, courtesy of eFXnews: EUR/USD has breached support at 1.1085 and more importantly the flag formation within which the corrective recovery evolved, notes SocGen. "The correction has achieved our initial target of 1.0940 and is likely to continue towards July lows of 1.08. With weekly indicator at resistance, retest of 1.05/1.04 is not ruled out. 1.1510 should cap upside," SocGen projects. Turning to USD/CAD, SocGen notes that it… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
