Trading Outlook for EUR/USD, USD/JPY, EUR/CAD, Gold Price & More

The Euro broke the important 11300 level yesterday and with it opens up room for more weakness. USD/JPY is looking to make a push on an area it has had a difficult time with since last year, how will it respond on another attempt to break through? EUR/CAD wedge gaining appeal as it forms within the context of a generally weak trend. Gold is pushing down on trend support off the August low, how it reacts here could be important for the foreseeable future.

Technical Highlights:

  • EUR/USD 11300 break opens up for more losses
  • USD/JPY has big resistance just ahead in mid-11400s
  • EUR/CAD wedge coming to light in context of weak trend
  • Gold price trading on important trend support

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EUR/USD 11300 break opens up for more losses

In the weekly Euro technical forecast I made note of the 11300 line and its importance given its significance starting back on the night of the U.S. Presidential election in 2016. Yesterday’s clean

Article source: https://www.dailyfx.com/forex/technical/article/special_report/2018/11/13/Trading-Outlook-for-EURUSD-USDJPY-EURCAD-Gold-Price-More-PRtech.html