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Wednesday, June 02, 2021

EUR/CAD FORECAST FUNDAMENTAL ANALYSIS | BULLISH VIEW ⭐️

EUR/CAD FORECAST FUNDAMENTAL ANALYSIS | BULLISH VIEW ⭐️

Euro / Canadian Dollar FOREXCOM:EURCAD

German Retail Sales for April decreased by 5.5% monthly and increased by 4.4% annualized. Economists predicted a decrease of 2.0% and an increase of 10.1%. Forex traders can compare this to German Retail Sales for March, which increased by 7.7% monthly and 11.0% annualized. The Eurozone PPI for April is predicted to increase by 0.9% monthly and 7.3% annualized. Forex traders can compare this to the Eurozone PPI for March, which increased by 1.1% monthly 4.3% annualized.

Canadian Building Permits for April are predicted to decrease by 4.8% monthly. Forex traders can compare this to Canadian Building Permits for March, which increased by 5.7% monthly.

The forecast for the EUR/CAD remains bullish after this currency pair ended its sell-off and started to drift higher.

Can bulls take control of the EUR/CAD and force price action into its next horizontal resistance area?



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