In this update, we dive into the latest market trends, offering in-depth Forex market analysis with actionable insights on USDEUR, USDCAD, and CADEUR currency pairs.

Our analysis covers technical indicators, sentiment ratings, and price forecasts to help you make informed decisions in these dynamic markets.

USDEUR WEEKLY CHART

The USDEUR pair is above a rising green 50-week Moving Average, keeping us BULLISH on the longer timeframe.

Our Short- and Intermeditae-Term Sentiment is NEUTRAL while we observe the reaction to the October 2023 high.

USDEUR DAILY CHART

The USDEUR pair trades below the 50-day Moving Average, changing our Daily chart Sentiment to NEUTRAL-BEARISH

We are BULLISH above 0.9677 and BEARISH below.

USDCAD WEEKLY CHART

The pair continues to move toward the 2016 and 2020 highs of 1.4691 and 1.4669, respectively.

We are BULLISH USDCAD  above 1.4464 and BEARISH below.

Our next level of interest is the 1.618 Fibonacci Level at 1.4524, which we anticipate will be reached.

Our anticipated pullback to the 1.389 level has yet to occur.

USDCAD DAILY CHART

The USDCAD pair is extended from the 50- and 200-day Moving Averages and the 1.3877 breakout level.

The USDCAD pair consolidates above the rising 50-day Moving Average

We become BULLISH above 1.4464.

Our anticipated pullback to the 1.389 level has yet to occur.

CADEUR WEEKLY CHART

The CADEUR pair trades below the 50- and 200-week Moving Averages.  

We require a new low below 0.6600 to switch from our Short and Intermediate-Term NEUTRAL Sentiment.

We are BEARISH on the longer time horizon below the declining 50-week and the purple 200-week Moving Averages.

CADEUR DAILY CHART

We don’t trust rallies above a declining 200-day Moving Average, with the chart providing several examples of failed moves.

CADEUR trades below a declining 200-day Moving Average, signalling a continuation of the downtrend.

FOREX SENTIMENT RATING

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Trent Klarenbach

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Nothing written, expressed, or implied here should be looked at as investment advice or an admonition to buy, sell, or trade any security or financial instrument. As always, do your own diligence.