EURCAD LONG: Back to the 1.51800 area and beyond
EURCAD could potentially move back to the 1.51800 area (and beyond) if the Demand zone, which was tested once before, holds for the second time around the 1.50700/800 area.
A potential confirmation that the Demand zone would hold would be a combination of bullish price action (candlestick) and a relative increase in Volume (bullish pressure).
Today is also a day full of CAD economic news, the CPI will be released around 2:30pm (CEST) and the BOC Monetary Report will be released at 4pm. High volatility is expected.
A potential confirmation that the Demand zone would hold would be a combination of bullish price action (candlestick) and a relative increase in Volume (bullish pressure).
Today is also a day full of CAD economic news, the CPI will be released around 2:30pm (CEST) and the BOC Monetary Report will be released at 4pm. High volatility is expected.
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