We discuss the potential reasons for the EUR/USD to drop down and then we will see the possible timing for the Canadian Dollar to enter the resistance zone.
The EUR/GBP is forming a reverse candlestick pattern, so we are discussing the possible scenarios regarding this development. As well as, taking a look towards the USD/CAD.
The FED finally raised rates, so what can we learn from that? Let´s take a look the Kiwi and the Canadian Dollar.
In this blog post, we consider the potential timing for buying the pair USD/CAD. The pair came under some selling pressure after the Bank of Canada left the interest rates unchanged.
In the beginning of this week, it is important to look towards EUR/USD, USD/CAD and GBP/CAD. The GBP/CAD is quite volatile and EUR/USD is renewing the months long maximum.
There is a fairly straightforward approach when it comes to the USD/CAD pair in the next few days. So, let´s keep that as out main plan, but as an alternative, we can look towards USD/CHF
The Australian currency is suffering, as NZD/USD pair seems to have regained traction and turned to a positive path.
If fundamental state of affairs is going to force the Dollar to move up, then we should wait for a breakdown at the level of 1.3580. This will also give us an overview of Oil prices.
There is strong trading happening with USD/CAD, as GBP still remains under pressure and is heading towards a bullish engulfing.
After two two consecutive losing sessions, the USD/CAD has started to show minor gains in the start of this week. Take advantage of any rebounds towards 1.3380 to sell the pair.
The oil exporting OPEC and non-OPEC countries had a meeting in Vienna on the 11th December.
The manufacturing countries will be proposed to reduce the production output by 600 thousand barrels per day. Of course, it can boost the Oil rates on Monday.
The inflation levels are still an issue in the US and not only there but also in the rest of the world. There does not seem to be any inflation, as such, rather signs of a deflation ready to happen.
There are rumours going on in the market that OPEC doesn’t have anything against the oil price trading at about 50-60 USD per barrel and about a chance that Brexit will have too rough of an impact upon the country.
The Euro, Pound and the Canadian Dollar are butting heads with the USD.