CAD: ‘Buy The Rumor, Sell The CAD’ – Credit Agricole

The Canadian Dollar is awaiting the verdict from the Bank of Canada but we already know they will raise interest rates. What’s next for the loonie? Here is their view, courtesy of eFXdata: Credit Agricole CIB discusses CAD outlook around tomorrow’s BoC July policy meeting. “With markets pricing in close to 80% probability of the […]

EUR/USD beginning to look somewhat overbought

The EUR/USD is extending its gains amid a calm market mood. Draghi’s testimony could provide clues to the next steps of the ECB. The technical picture looks quite bright for the pair. The EUR/USD is trading in the mid 1.1700s, the highest levels since June 14th. On that day, the President of the European Central […]

The next target for EUR/USD is 1.1860

The EUR/USD continues advancing in a gradual manner, reaching the highest levels in over three weeks. What’s next? The Technical Confluences Indicator shows that the pair is currently battling a tough level of resistance line at 1.1770 which is the congestion of the Simple Moving Average 10-15m, the 4h-high, the one-day high, the Bollinger Band 1h-Upper, the SMA 5-15m, and the […]

USD/CAD Forecast July 9-13 – Hawkish hike or Trump trouble?

Dollar/CAD had an interesting week, enjoying a calmer atmosphere at first but suffering some turbulence later on. What’s next? The all-important rate decision by the BOC is in the limelight. Here are the highlights and an updated technical analysis for USD/CAD. Oil prices continued climbing and trade tensions remained calm for a while, providing some stability […]