From a technical point of view, it’s too early to call this the distribution phase of the euro’s recent uptrend. Based on the lack of any subsequent test of the three moving averages after last Monday’s very strong gains, this looks more like a consolidation. Volume remains fairly low so far today, understandable given that…
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Key data this week Bold indicates the most important releases for this symbol Wednesday 21 October, 6.00 GMT: British annual inflation (September) - consensus 0.6%, previous 0.2% Wednesday 21 October, 6.00 GMT: British annual core inflation (September) - consensus 1.3%, previous 0.9% Wednesday 21 October, 6.00 GMT: British monthly inflation (September) - consensus 0.5%, previous…
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From a technical perspective, the uptrend is still active here although momentum has been somewhat lower since last week. The focus of this chart is the 50 SMA from Bands, coming just above the 50% zone from the daily Fibonacci fan. Currently there’s no sign of overbought from either Bands (50, 0, 2) or the…
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The following article was written by Reem Aboul Hosn, Research and Market Analyst Officer at Credit Financier Invest (CFI) Ltd. Despite a slight recovery in oil prices at the beginning of 2019, low oil prices could have a negative effect on Canadian economy this quarter. In October 2018 too many uncertainties pressured oil prices from…
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The following is based on research from Tyler Yell, Currency Analyst at the DailyFX division of IG Group Holdings plc (LON:IGG). More of Tyler Yell's research can be seen at DailyFX.com. USD/CAD Technical Analysis: A Case Study On Not Fighting Breakouts Can CAD rebound in 2Q? See our forecast to find out what’s driving market…
Read moreThe last down cycle in the Loonie saw it dip down to 62 cents. Will that happen again?
Read moreThe last time the Canadian Dollar had a 60-something US cents handle the calendar read 2003. Most retail forex brokers we know today hadn't yet been founded. Affectionately known as the Loonie thanks to the picture of a loon on one side of the coin (Canada's two-dollar coin is called a Toonie), the CAD is…
Read moreIt looks as if the oil bears have gotten ahead of themselves and were quick to cover shorts as Wednesday's price action saw huge momentum and strength in the black gold. Oil prices shot up in the face of recent rising inventory reports to close back above the $45 handle at the close of American trading…
Read moreThe USDCAD is clearly trading in tandem with crude. But Canada's economy is a lot more than oil. Is this a prime buying opportunity for Canadian Dollar bulls?
Read moreAs the trading weeks kicks off, Greece news has rocked the markets with traders, banks and brokerage houses glued to their screens.
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