InstaForex - Analytics

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    Forecast of EUR/CAD for July 23, 2015

    The Greek government is likely to get enough votes in Parliament. As of now, the Greek Parliament voted with final result: 230 in favor, 63 against, and 5 abstentions.

    Traders eye today US unemployment claims and Canada core retail sales. In May and June, core retail sales data was weak.

    Technical view: The cross made a double bottom at 1.4065, moving higher for 4 consecutive days. We can observe higher lows and higher highs in the daily and four-hour charts/

    In case of disappointing Canadian retails sales, the cross is likely to head towards 1.4400 during a day or two. The resistance is seen at 1.4375 and weekly resistance is seen at 1.4320. The cross managed to breach and close above the falling wedge.

    At today's session, the cross must close above 1.4260. Otherwise, we will expect a price correction in a day or two.

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