TP3 @ 1.4765 (closing ALL Buy Orders)
TP2 @ 1.4625 (shaving 25%)
TP1 @ 1.4466 (shaving 25%)
BSO @ 1.4375⏳
BLO @ 1.4315⏳
TECHNICAL ANALYSIS:
— The EURCAD is currently trading at 1.43431
— The moving averages are all pointing upwards, which is a bullish signal
— The RSI is in the overbought zone, which could signal a potential sell-off
— The MACD is crossing above the signal line, which is a bullish signal
Overall, the technical analysis for EURCAD is bullish. However, the RSI being in the overbought zone that could signal a potential sell-off. Based on this calculated guess, I'm going my chances with a Buy Order(see above)
HIGH IMPACT EVENTS:
— The economic outlook for the Eurozone and Canada
— The interest rate differential between the Eurozone and Canada
— Crude oil prices
— Geopolitical events
FUNDAMENTAL ANALYSIS
Interest Rates:
The European Central Bank (ECB) has raised interest rates twice in 2022, while the Bank of Canada (BoC) has raised rates four times. This has put upward pressure on the Canadian dollar and downward pressure on the euro.
Inflation:
Inflation is slightly higher in Canada. This could lead to further BoC rate hikes, which would continue to put downward pressure on the euro.
TP2 @ 1.4625 (shaving 25%)
TP1 @ 1.4466 (shaving 25%)
BSO @ 1.4375⏳
BLO @ 1.4315⏳
TECHNICAL ANALYSIS:
— The EURCAD is currently trading at 1.43431
— The moving averages are all pointing upwards, which is a bullish signal
— The RSI is in the overbought zone, which could signal a potential sell-off
— The MACD is crossing above the signal line, which is a bullish signal
Overall, the technical analysis for EURCAD is bullish. However, the RSI being in the overbought zone that could signal a potential sell-off. Based on this calculated guess, I'm going my chances with a Buy Order(see above)
HIGH IMPACT EVENTS:
— The economic outlook for the Eurozone and Canada
— The interest rate differential between the Eurozone and Canada
— Crude oil prices
— Geopolitical events
FUNDAMENTAL ANALYSIS
Interest Rates:
The European Central Bank (ECB) has raised interest rates twice in 2022, while the Bank of Canada (BoC) has raised rates four times. This has put upward pressure on the Canadian dollar and downward pressure on the euro.
Inflation:
Inflation is slightly higher in Canada. This could lead to further BoC rate hikes, which would continue to put downward pressure on the euro.
Professor C. E. Ward
