Forex Investment and Currency Trading

EUR/CAD – A very mixed picture on the daily chart at the end of last week, with Wednesday’s bullish outside range session countered by previous day’s bearish “doji” signal and the risk of something similar forming last Friday. These latter two candles suggest a lot of indecision in the market at or near the highs for this year (March peak at 1.6321). Wednesday’s strongly positive session should be enough to keep the cross supported in the medium term but the struggle to sustain gains on a closing basis – or crack on through the low 1.63 area – in the latter part of last week should be a concern. Cautiously bullish here.