Logo-color Logo-white

EURCAD broke resistance zone Likely to rise to resistance level 1.5000 EURCAD currency pair recently broke the resistance zone located between the resistance level 1.4865 (which has been reversing the pair from the middle of November) and the 50% Fibonacci correction of the downward impulse wave C. The breakout of this resistance zone accelerated the […]

The post EURCAD Wave Analysis appeared first on Action Forex.

previous

Bank of Canada to Cut Interest Rates Again by 50 Basis Points

next

US Treasuries’ Outperformance vs German Bunds Didn’t Help EUR/USD

Read More

20/01/2024

BoC to Hold Interest Rates Steady Again Next Week

The Bank of Canada is widely expected to hold the overnight rate steady at 5% in the first policy decision of 2024 – extending a pause that started following the last hike in July. The statement and press conference that follows will be watched closely for hints about how much longer the central bank expects […]
20/12/2024

British Pound Stabilizes as Retail Sales Edge Up

The British pound has steadied on Friday, after sliding 1.6% in the past two days. In the European session, GBP/USD is trading at 1.2510, down 0.10% on the day at the time of writing. Retail sales point to weak Christmas spending UK retail sales posted a small gain of 0.2% m/m in November. This was […]
18/06/2024

European Currencies Adjust to Support Levels: Is Growth Possible?

A week rich in macroeconomic data contributed to the decline of the euro, yen, and pound. Notably, the following events were significant: Inflation falling for the second consecutive month (0.2% against the expected 0.3%); The publication of the updated forecast from the Federal Reserve (one reduction in the federal funds rate by 0.25%, presumably in […]