The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
Tag - cad - canadian dollar
The NZD is on a steady rise after the Wednesday strong bullish move, the USD is dropping and the EUR is testing the support level.
USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.
The bullish euro and the USD at 4-months highs.
Technical analysis of the USD/CAD
Traders worry about the prospects for the US-China trade deal and await the meeting of the Bank of England. Watch the video to learn more!
The USD and the EUR rising against the CAD; the NZD/JPY testing the support level.
The Canadian employment change and the unemployment rate will be announced at 15:30 MT on November 8.
While the market is boosted by the optimism concerning the US-China trade deal, we are awaiting the Canadian and New Zealand's data.
Will this week be optimistic for the markets?
EUR/CAD strengthened last week but ran into the resistance of the 100-day MA around 1.4675.
This week we will see two rate statements by the major central banks, no changes in the interest rate are expected. Read more...