The Canadian dollar is looking for a new direction. Where will it go? Here are two opinions: Here is their view, courtesy of eFXnews: USD/CAD: Range Bound In USD Strength & Weakens: What’s Next? – BofA Merrill Bank of America Merrill Lynch Research notes that USD/CAD has been fairly range bound, centered around the low 1.30s, since last autumn, and [...]
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Euro/dollar trades around 1.0750, back to the 1.0720 to 1.0775 range that characterized it earlier in the month. The move to 1.0905 has been fully reversed. The rise of EUR/USD was based on four pillars. The last of these pillars has fallen off the stool. So, while the pair is still supported, it lost its [...]
The post EUR/USD retreats as 1/4 legs of the rally drops appeared first on Forex Crunch.
The UK triggered Article 50 and began the two-year countdown towards the exit from the European Union. A 6-page letter from Her Majesty’s government was received by the European Commission at 13:30 in Brussels, 12:30 in the UK. And what happened? With the privilege of a few hours of hindsight, we can say that the reaction is muted. Sterling dropped ahead [...]
The post GBP/USD remains depressed after Brexit is triggered – no short squeeze, just short appeared first on Forex Crunch.
