Forex Monday - February 20, 2017

Good morning traders…..Last Friday in EURUSD we caught both the top and the lows as I expected a rejection around 1.0670 where the cloud resistance was found and a pull back towards 1.06. The analysis was posted here and also tweeted.

The Dollar index is in a neutral area. Above 101.70 we have confirmation of an important low at 99.25 and the start of a new bull trend towards 105-110, but below the neckline at 99.25 we have confirmation of the Head and Shoulders pattern. 

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usdxd2-300x149.png (300×149)

My view for USDCAD remains bearish targeting 1.28 for the short-term. I expected 1.31 to sell again and I did it last week. I’m short looking for 1.28 area to take profits. 

(Click on image to enlarge)

usdcad1.png (1632×811)

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