EURCAD could potentially move back to the 1.51800 area (and beyond) if the Demand zone, which was tested once before, holds for the second time around the 1.50700/800 area.
A potential confirmation that the Demand zone would hold would be a combination of bullish price action (candlestick) and a relative increase in Volume (bullish pressure).
Today is also a day full of CAD economic news, the CPI will be released around 2:30pm (CEST) and the BOC Monetary Report will be released at 4pm. High volatility is expected.
A potential confirmation that the Demand zone would hold would be a combination of bullish price action (candlestick) and a relative increase in Volume (bullish pressure).
Today is also a day full of CAD economic news, the CPI will be released around 2:30pm (CEST) and the BOC Monetary Report will be released at 4pm. High volatility is expected.