The EUR/CAD pair might rise in the near term, according to our technical and fundamental analysis. The price has already reached EMA 20 and EMA 50 on the daily chart, and the stochastic indicator is positive. The price might hit 1.4880 level, where is Fibo 23% on the daily chart.
As prices keep rising in an uptrend, the RSI will cross the 50 mark, on the weekly chart. The price is near EMA 20, and it has already formed a triangle trendline.
The most important data from this week:
ECB publishes Financial Stability Review
Canada CPI YoY (1.9% expectation); ( 1.9% previous)
MoM (0.3% expectation); ( -0.4% previous)
Bundesbank publishes Financial Stability Review
BOC Chairman Poloz speaks in Toronto
Germany GDP YoY (1.00% expectation);( 1.00% previous)
ECB President Lagarde speaks in Frankfurt
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