Trading news

EUR/CAD Strong bearish channel confluence



The EUR/CAD is waiting for Crude Oil inventories data on the expectations that OPEC is planning to cut in a meeting this or next week. Crude Oil data should create CAD volatility. Technically EUR/CAD is nose diving within the bearish channel with 1.4200 as strong support. POC zone (EMA89, bearish order block, channel top) 1.4280-1.4305 shows a retracement trend line break (RT) and is suggesting more downside to come. If the pair continues with a drop below the POC or rejects again from POC the target is 1.4200 with 1.4130 and 1.4098 as next targets. However any spike above 1.4305 could target 1.4325 and eventually 1.4402. I expect rallies to be sold as cut is clearly bullish for Oil. That will translate EUR weakness into Oil additional strength.

Wednesday, 23 Nov, 2016 / 11:04

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.admiralmarkets.com/analytics/technical-analysis/

Trading news

 

2020 Olympics & The Japanese Economy

With the 2020 Olympics kicking off after a year-long delay, just how much of a [...]

Posted on Friday, 23 Jul, 2021 / 1:30 under

Fed, Inflation, And The Housing Bubble

Yesterday, the US’ second-largest homebuilder, D.R. Horton, announced [...]

Posted on Friday, 23 Jul, 2021 / 1:28 under

Stormy week ends with US stocks at record highs

  Nasdaq 100 closes at new record as investors warm up to tech [...]

Posted on Friday, 23 Jul, 2021 / 9:25 under