EURCAD End of the bullish trend - D1

On the daily chart of EURCAD we see the price response to the resistance range. This range of resistance has also reacted to price movements in recent weeks and has prevented price movements. It is therefore valid. On the other hand, we are seeing a 220-day moving average price, which indicates the beginning of the downtrend. It is also possible to predict the decline using the RSI indicator. So our price target is 1.4471.

The most important support and resistance lines for the EURCAD pair are as follows:

S1 : 1.4672

S2 : 1.4655

S3 : 1.4644 .

Pivot Points : 1.4686

R1 : 1.4693

R2 : 1.4707

R3 : 1.4718

The most important political economic news for the EURCAD currency pair is as follows:

February 5 : Speech by the President of the European Central Bank

February 5 : Statistics Canada's Import and Export Amount

February 7 : Statistics Canada unemployment rate

February 7 : Publication of the statute of change of the status of unemployed persons to those employed in Canada

February 7 : Statistics Canada Purchasing Managers

Concerns over the spread of the deadly Chinese virus have pushed up oil prices in world markets, which has had an effect on the pair.



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