Euro-Canadian and upcoming forecasts

Euro-Canadian at the basic level

The EUR / CAD pair rose during the trading of the last period for the second week in a row and the ninth day in a row.

We are waiting today at 9: 30 pm Egypt time for a talk by Christine Lagarde, the governor of the European Central Bank, and on the other hand, we are waiting tomorrow for Canadian growth data from the Canadian economy.

Euro-Canadian at a technical level

The EUR / CAD pair is trading on the rise for the ninth consecutive day inside an ascending wedge of the daily frame.

Forecasts indicate that the pair has reached the upper limit of the ascending wedge approximately at the levels of 1.1625 and around, from which it is possible that the pair will start to decline again, especially with the appearance of any reflective bin bar candles from the upper limit of this wedge.

We then target the levels of 1.5960 and then 1.5840.

This scenario fails if the 1.1660 levels break higher.