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Forex: USD/CAD falls to 1.0211/13

FXstreet.com (Barcelona) - The USD/CAD has traded fallen steadfastly in recent minutes, plunging deeper into negative Thursday ahead of data in the US and Canada. In recent minutes the cross is establishing fresh lows at 1.0204, though at the time of writing the pair is trading at 1.0211/13, down -0.42% during European trading.

“The three outside down pattern in hourly charts is a confirmation of the overall bearish trend for the USD/CAD. With moderate resistance at 1.0238, we consider shorts at market given the high credibility bearish pattern with a stop loss above it.” suggests Mark De La Paz , an analyst at FX Instructor.

According to Research Analyst Gareth Berry at UBS, “We reiterate a bullish stance on the USD/CAD – the latest strength reinforces the broader bullish theme. A break above 1.0296 would open 1.0366 and

European markets down on falling and disappointing EMU PMI

The German DAX (-0.86%), the French CAC 40 (-1.14%), the Italian FTSE MIB (-0.02%) and the Spanish IBEX 35 (-0.86%) are down on disappointing preliminary February Markit PMI data in Europe, including a German manufacturing drop below the 50.0 threshold.
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Forex: EUR/USD at 1.2920 ahead of US jobless claims

The EUR/USD went as low as 1.2880 once the EMU Markit PMI preliminary data for February revealed much weaker than expected figures, along with German manufacturing below the 50.0 threshold. Eventually, the pair bounced back to the 1.2900 ground but is having quite a hard time to hold a position above 1.2920.
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