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.