Analisis Forex & Kajian: 04.08.2023 - EUR/CAD dynamics scenarios on...

04.08.2023 03:15 PM

EUR/CAD dynamics scenarios on August 4, 2023

Today at 12:30 GMT, market participants are focused on the release of the latest monthly report from the U.S. Department of Labor with data for July. At the same time (at 12:30 GMT), Statistics Canada will present a report with data on the Canadian labor market for July.

In other words, at this time, we should expect a sharp increase in market volatility, primarily in quotes of the U.S. and Canadian dollars.

Now, let's consider the dynamics of the EUR/CAD cross-pair.

After breaking through key resistance levels of 1.4410 (200 EMA on the daily chart) and 1.4485 (200 EMA on the weekly chart) at the beginning of last month, the pair is trading in a long-term bullish market zone.

Technical indicators OsMA and Stochastic on the 1-hour, 4-hour, daily, and weekly charts are also in favor of buyers, confirming the preference for long positions.

If today's report from Statistics Canada turns out to be weak (an increase in unemployment in July by +0.1%, to 5.5% is expected) and disappoints market participants, we should expect further strengthening of the EUR/CAD pair.

In that case, long positions can be opened from the current levels at 1.4630 with targets at resistance levels of 1.4880 and 1.5090 (local highs). Further targets are located near resistance levels of 1.5900 and 1.5970.

In the alternative scenario, EUR/CAD will break through support levels of 1.4600 (200 EMA on the 1-hour chart), 1.4586 (200 EMA on the 4-hour chart), and after breaking through key support levels of 1.4410 and 1.4365, it will move deeper into the downward channel on the weekly chart, towards its lower boundary and the level of 1.4100.

The ultimate downside target is located near 1.2900 and 1.2860 (August 2022 lows).

In other words, EUR/CAD provides plenty of trading opportunities both to the upside and the downside.

Support levels: 1.4600, 1.4586, 1.4485, 1.4410, 1.4365

Resistance levels: 1.4700, 1.4800, 1.4830, 1.4900, 1.5000

Anda telah pun menyukai siaran hari ini

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Jika anda mempunyai sebarang soalan berkaitan kandungan, sila hubungi editorial-board@instaforex.com

Trading plan

Jurij Tolin,
Pakar analisis InstaForex
© 2007-2025

Lebih banyak artikel daripada pengarang ini

Langganan E-mel

EURUSD

Euro vs US Dollar

Pilih carta masa

min

jam

hari

minggu

Mulakan dagangan

Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.

Muat turun MetaTrader 4 dan buka dagangan pertama anda.

Artikel yang dicadangkan

Bagaimana untuk Berdagang Pasangan GBP/USD pada 13 Jun? Tip Ringkas dan Analisis Perdagangan untuk Pedagang Baharu

Bagaimanakah untuk Berdagang Pasangan EUR/USD pada 13 Jun? Petua Ringkas dan Analisis Dagangan kepada Pedagang Baharu

Cadangan dan Analisis Perdagangan untuk GBP/USD pada 13 Jun: Data KDNK yang Lemah Merencatkan Pound

Cadangan Dagangan dan Analisis untuk EUR/USD pada 13 Jun: Trump Beri Amaran Kenaikan Tarif

Bagaimana Berdagang Pasangan EUR/USD pada 12 Jun? Tip Ringkas dan Analisis Dagangan untuk Pedagang Baharu

Bagaimanakah untuk Berdagang Pasangan GBP/USD pada 12 Jun? Petua Ringkas dan Analisis Dagangan kepada Pedagang Baharu

Cadangan Dagangan dan Analisis untuk GBP/USD pada 12 Jun: Pound Menemui Alasan Baharu untuk Bersorak

Cadangan Dagangan dan Analisis untuk EUR/USD pada 12 Jun: Kenaikan Inflasi Juga Gagal Mengukuhkan Dolar

GBP/USD: Rancangan Dagangan untuk Sesi AS pada 11 Jun (Ulasan Dagangan Pagi)

EUR/USD: Rancangan Dagangan untuk Sesi Urusniaga Amerika Syarikat pada 11 Jun (Semakan Dagangan Pagi)

Analisis terbaik