EUR/JPY: on the way up
EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
EUR/CAD awaits the Bank of Canada
Information is not investment advice
During the summer months, EUR/CAD broke an important support line and has traded with a bearish bias ever since. Last week, the pair was rejected down from the resistance at 1.4660 and fell to 1.4460. This week, there’s some recovery. However, the Bank of Canada’s meeting later on Wednesday may give the CAD more strength and pull the pair down. On H4, EUR/CAD ran into the resistance of the H4 MA and there’s further resistance in the 1.4580/90 area. The return below 1.4525 will make the pair revisit the recent lows. If it manages to jump to the 1.4600 area, sellers will also re-emerge due to the resistance line connecting August and October highs.
Elizabeth Belugina
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EUR/JPY: on the way up
EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
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