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

See the DailyFX Q4 Forecasts to find out where our team of analysts think your favorite markets and currencies are headed as the year quickly draws towards its conclusion.

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: