Essential Analysis of EUR/CAD for April 18, 2018 888011000 110888 EUR/CAD has moved quite impulsively with the bullish gains today. The set is anticipated to push higher with the bullish momentum for a while prior to proceeding lower in the short-term. Today, after BOC Overnight Rate was stated the same as expected at 1.25%, BOC Monetary Policy was rather dovish with statements like substantial risk from escalating trade tensions which will impact the short-term development of the economy but for the long term better results are expected. Furthermore, BOC Interview is yet to be held, so a good amount of volatility is anticipated to be injected in the market today. On the other hand, US Petroleum Stocks report is going continuing reading the USD side is anticipated to press the market to more indecision which will result in an additional corrective predisposition of the marketplace sentiment. As for the existing scenario, USD is expected to acquire specific momentum over CAD for the coming days of the week whereas CAD is anticipated to acquire momentum on the long-lasting basis as the bearish bias still exists in the market.Now let us look atthe technical view. The rate is currently proceeding rather impulsively towards the resistance area of 1.57 from where with the confluence of dynamic level of 20 EMA as resistance, the cost is expected to continue its bearish pressure with a target to 1.5320 in the coming days. The consolidation after the strong bearish pattern is currently correcting itself pretty well however more volatility is anticipated up until the everyday close today. As the rate stays listed below 1.59, the bearish bias is expected to continue further. The product has actually been offered by InstaForex Company-www.instaforex.com

By | April 18, 2018

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