The EUR/CAD pair initially try to fall during the session on the day, but as you can see broke back above the 1.45 handle. This of course is a very positive sign, and it should be noted that a massive uptrend line did in fact market higher. With this, it’s very likely that the market should continue to go higher, but it won’t necessarily be the easiest move. Obviously, we have saliva rather drastically lately, but the EUR/USD pair is also showing a significant amount of support, so I feel that the Euro could bounce from here in general.

On a move higher, I believe that a break above the 1.46 level since this market to the 1.50 level, which of course is a massively resistant area as it is without a doubt a large, round, psychologically significant number of the largest order.

This could be a simple matter of Europe versus North America.

I think that this market could in fact be showing the sentiment of Europe versus North America. The Euro has been sold off drastically lately, so it makes sense that perhaps there could be a significant bounce. This balance could easily go to the 1.50 level, but I also have to question whether or not the uptrend simply stays intact, and we eventually go to the 1.55 handle and beyond. If that’s the case, this could be a massive buying opportunity of the largest order, as the magnitude of the pullback has been fairly significant.

On the other hand, if we do break down below the 1.44 level, I believe that this market could continue to drop to the 1.40 handle as it would be a significant break all of an uptrend line. With that being the case, the market would in fact be “broken”, and I think that at that point in time the Euro could start to fall against most currencies around the world. I don’t necessarily see that happening, and as a result the German Export numbers the, later today couldn’t in fact be a catalyst to push this market higher.


Related Articles
  1. Chart Advisor

    ChartAdvisor for November 27 2015

    Weekly technical summary of the major U.S. indexes.
  2. Retirement

    Suddenly Pushed into Retirement, How to Handle the Transition

    Adjusting to retirement can be challenging, but when it happens unexpectedly it can be downright difficult. Thankfully there are ways to successfully transition.
  3. Mutual Funds & ETFs

    The Democratization of the Hedge Fund Industry

    The coveted compensations of hedge fund managers are protected by barriers of entry to the industry, but one recent startup is working to break those barriers.
  4. Investing

    What a Family Tradition Taught Me About Investing

    We share some lessons from friends and family on saving money and planning for retirement.
  5. Retirement

    Two Heads Are Better Than One With Your Finances

    We discuss the advantages of seeking professional help when it comes to managing our retirement account.
  6. Financial Advisors

    Tips on Passing the CFA Level I on Your First Attempt

    Obtain valuable tips and helpful study instructions that can help you pass the Level 1 Chartered Financial Analyst exam on your first attempt.
  7. Professionals

    The Best Financial Modeling Courses for Investment Bankers

    Obtain information, both general and comparative, about the best available financial modeling courses for individuals pursuing a career in investment banking.
  8. Stock Analysis

    These are Twitter's 4 Biggest Bets for Next Year

    Looks at Twitter's plans for 2016 under CEO Jack Dorsey, who has returned to lead the company he founded seven years after he was replaced.
  9. Investing Basics

    Why Interest Rates Affect Everyone

    Learn why interest rates are one of the most important economic variables and how every individual and business is affected by rate changes.
  10. Entrepreneurship

    Top 5 Billionaires Living In Dallas

    Learn who the richest of the rich are in a city known for creating some of the world's wealthiest people, and read how they amassed their vast fortunes.
  1. Are secured personal loans better than unsecured loans?

    Secured loans are better for the borrower than unsecured loans because the loan terms are more agreeable. Often, the interest ... Read Full Answer >>
  2. Is Israel a developed country?

    Israel is considered a developed country, although it has substantial poverty and large income gaps. The International Monetary ... Read Full Answer >>
  3. Can personal loans be included in bankruptcy?

    Personal loans from friends, family and employers fall under common categories of debt that can be discharged in the case ... Read Full Answer >>
  4. How many free credit reports can you get per year?

    Individuals with valid Social Security numbers are permitted to receive up to three credit reports every 12 months rather ... Read Full Answer >>
  5. Is the Wall Street Journal considered to be a conservative publisher?

    The Wall Street Journal is controlled by Rupert Murdoch via Dow Jones Publications, which in turn is owned by Murdoch's News ... Read Full Answer >>
  6. Is Spain a developed country?

    Spain is a developed country. Nearly all organizations that analyze development status classify it as such. Spain has a strong ... Read Full Answer >>

You May Also Like

Trading Center