The currency instrument is still under uptrend after positive release of economic indices. The technical analysis shows that the pair got from the price channel support level which opens position for purchase from the current price to 0.9590.
In the H4 time frame the current pair was still under downtrend after speech by Mario Draghi, the Head of the ECB. The technical analysis shows the current trend to go on which enables to open order for selling from the current level to 1.4950.
The currency pair keeps downtrend before the news release on the Canadian retails. Based on the forecasts, the retails will increase thus supporting the CAD. In the H4 time frame the technical analysis shows further downtrend which opens position for selling from the current price to 1.2700.