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Thursday June 2nd – Forex trade ideas & signals.

Today’s forex trade ideas & signals.

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EURUSD broke first support at 1.0690/70 to hold 5 pips above the next target of 1.0620/00. Longs here today need stops below 1.0590. A break lower is a sell signal targeting 1.0575/65, perhaps as far as 1.0520/15. 

First resistance at 1.0675/95. Shorts need stops above 1.0705. Further gains target 1.0740/45 before a retest of 1.0780/85. Strong resistance at 1.0800/20. Shorts need stops above 1.0835. 

USDCAD has bounced to 1.2660/70. We should struggle to beat this level but if we continue higher look for a sell opportunity at 1.2700/1.2720. Shorts need stops above 1.2740. 

Holding 1.2660/70 sees a retest of 1.2620/05. A break below 1.2595 risks a slide to 1.2565/55, perhaps as far as 1.2525/20. 

Nick Leeson vs Jason Sen | TTB #63 | Trading Battle – 3 Jun 2022

AUDUSD made a high for the day exactly at strong resistance at 7230/50.  Shorts need stops above 7270. 

We held just 9 pips above minor support at 7145/40, but the best support today is at 7140/30. Longs need stops below 7115. A break lower is a sell signal targeting 7080/70, perhaps as far as 7030/20. 

NZDUSD collapsed from 6565/70 as expected to make a low for the day at first support at 6490/70 again yesterday. Longs need stops below 6460. A break lower targets 6450 then 6435/25, perhaps as far as strong support at 6410/00. Longs need stops below 6385. 

First resistance at 6530/50. Shorts need stops above 6570. If we continue higher look for 6620/30. 

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