Forex outlook & trading levels
Jason Sen of DayTradeIdeas.co.uk - InsideFutures.com - Mon Feb 11, 7:43AM CST
AUDUSD holding minor resistance at 7110/15 targets 7085/80 & 7065/60. Below 7055 targets 7030/20 & 6995/90. Below 6980 look for 6955/50.
Quite strong resistance at 7140/45 but try shorts at 7165/75 if we reach this far, with stops above 7190.

NZDUSD holding first support at 6725/20. A break below 6710 targets 6690/85.
Strong resistance at 6770/80 & again at 6810/20. Either of these levels could see a high for the day.

USDJPY good support at 109.55/50 & again at 109.30/25. A break below 109.20 however targets 4 week trend line support at 108.85/75. Longs need stops below 108.60.
Holding good support at 109.55/50 targets minor resistance at 109.80/85. A break above 109.95 meets quite strong resistance at 110.40/50. Try shorts with stops above 110.60.

EURJPY try shorts at 124.70/80 with stops above 125.00.
Holding below 124.35/40 targets 124.05/00 & 123.85/75, perhaps as far as 123.50/40.

EURUSD holding strong support at 1.1320/10 allows a recovery to 1.1340/45 & first resistance at 1.1360/65. Try shorts at 1.1390/95 with stops above 1.1415.
A break below 1.1300 is a sell signal targeting the January low at 1.1290/85 then 1.1267/63

GBPUSD holding first support at 1.2920/10 targets 1.2940/50 then strong resistance at 1.2980/90. If we continue higher look for a selling opportunity at 1.3020/25, with stops above 1.3050.
Below 1.2900 targets 1.2890/85 & low last week at 1.2860/50. Below 1.2840 look for 1.2815/10.

GBPJPY first support at 142.00/141.90 held on Friday but below 141.80 targets 141.60/55 then 141.20/10.
First resistance at 142.50/60 also held perfectly on Friday, but above targets 142.80/85 then resistance at 143.10/15. . Below 1.1260 risks a test of the November low at 1.1220/10.

USDCAD minor resistance at 1.3280/85, stronger resistance at 1.3315/20. Bulls need a break above 1.3330 for the next buy signal targeting 1.3350/55 & the main challenge for bulls this week. A break above the mid January high at 1.3374 then required for a buy signal targeting 1.3405/10.
First support at 1.3240/30 held but below 1.3220 targets 1.3175/65 before better support at 1.3135/25.

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