Tag: EURCAD

January 17, 2023 BY Steffy Bogdanova

Weekly data: inflation around the world

Meanwhile the bank of Canada reached 4.25% last month and seems likely to call for another single hike next week. Inflation in Canada isn’t at the same crisis area as in the EU and seems to be dropping more quickly as well, so it might be that the end of this cycle of tightening is…

Read more
September 06, 2022 BY Steffy Bogdanova

Weekly data: ECB’s meeting and balance of trade ahead

On the chart, the 50% weekly Fibonacci retracement is still the main technical reference with there being clear demand below that area. 67c seems to be a firm support for now and will probably remain so unless there’s a significant surprise from American inflation or the Fed’s meeting. To the upside, the 50 SMA from…

Read more
October 25, 2021 BY Steffy Bogdanova

Weekly data: ECB’s meeting and inflation ahead

The clear target for old buyers is the 161.8% weekly Fibonacci extension just below $90. Finding an entry as a new buyer is likely to be difficult here, but a bounce seems possible from the 38.2% zone of the weekly Fibo fan and definitely from the psychological area around $80. Brent has been strongly overbought…

Read more
July 26, 2021 BY Steffy Bogdanova

Weekly forex data: caution ahead of the Fed

The 61.8% area of the weekly Fibonacci fan seems to be quite a strong dynamic support from which a bounce might be expected, but the bunching of the 50, 100 and 200 SMAs might make significant movement upward from here a challenge. 15 July’s high around $1,834 seems to be the main static resistance in…

Read more