EUR/CAD Set to Dip Lower

Frank Walbaum FX Strategies.Asia

The EUR/CAD weekly chart suggests a further selloff here. Below the strategic support at 1.4455 the market could gain further momentum to the downside and accelerate towards the 1.4000 area. Recent positive numbers from Canada and a stable interest rate could support this move.

Meanwhile, the EUR is expected to remain subdued as traders will largely seek direction from this Wednesday’s FOMC monetary meeting and Press Conference. With rates set to stay put, all eyes will be on Jay Powell and the clues he might give on future monetary policy. Don’t miss BDSwiss free live FOMC webinar this Wednesday at 18:45 GMT. Watch me trade and analyse the markets live as the vent unfolds.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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