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The EURCAD pair represents the exchange rate between the Euro and the Canadian Dollar and is a vital measure of the relative economic health of the Eurozone and Canada. The Euro value is influenced mainly by economic activities and monetary policies within the Eurozone, including fiscal stability and economic growth rates of member countries such […]

The post Instrument of the Week (June 3—7): EURCAD Outlook appeared first on Action Forex.

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20/02/2024

EURJPY on the Rise Above 162.00, But for How Long?

EURJPY posts new 3-month high Momentum indicators are gaining ground Positive structure remains intact above short- and long-term diagonal lines EURJPY is skyrocketing above the 162.00 round number, recording a fresh three-month high. The market is completing a strong bullish rally after the bounce off the 158.90 support level, posting the tenth consecutive green day. […]
23/04/2024

EUR/USD Aims Recovery But Faces Many Hurdles

Key Highlights EUR/USD is consolidating losses above the 1.0600 support. A key bearish trend line is forming with resistance at 1.0670 on the 4-hour chart. GBP/USD extended losses and traded below 1.2420. Crude oil prices declined below the $82.50 support zone. EUR/USD Technical Analysis The Euro extended losses and traded below the 1.0650 support against […]
07/05/2024

RBA on Gold and Remains Vigilant to the Upside

Rates unchanged as expected, as Board balances near-term inflation risks with desire to avoid recession. As expected, the RBA Board left the cash rate target unchanged at 4.35% following its May meeting but strengthened its rhetoric around upside inflation risks. The statement highlighted that inflation is declining, but more slowly than expected. Services inflation is […]