Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/CAD runs out of steam ,but outlook is bullish

• EUR/CAD eased  on Monday   as investors waited warily for further news of U.S. trade policy and braced for Canada's general election.

• Uncertainty over the global trade war persisted after conflicting claims on Friday about negotiations between Beijing and Trump.

• Prime Minister Mark Carney holds a slight lead over Conservative leader Pierre Poilievre as the country approaches election day.
• Investors are also awaiting inflation data from the euro zone and the U.S. this week, along with the U.S. jobs report due on Friday.

•  At GMT 15: 18,the euro was down  0. 03% at 1.5747  against Canadian dollar   .

• Immediate resistance is located at 1.5810 (April 24 high), any close above will push the pair towards 1.5945  (23.6%fib).

•  Support is seen at 1.5755 (38.2%fib) and break below could take the pair towards 1.5520 (50%fib).

Recommendation: Good to buy around 1.5740, with stop loss of 1.5700 and target price of 1.5850
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.