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Euro to Dollar, Dollar to Canadian Dollar Forecasts: September 10, 2019
Euro to Dollar, Dollar to Canadian Dollar Forecasts: September 10, 2019
Posted

By - Jamel Lahiani

Posted - 10-09-2019
  • The EURUSD is ranging.
  • The USDCAD is ranging.

Today our analysis will be concerned with:

The EURUSD is the most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

The USDCAD is a very popular currency pair and represent the exchange rate of the tow neighbor money, the U.S. and Canada.

CLICK ALSO: African and International Market Report 2 September – 6 September 2019

FOREX Market Insights
Yesterday, the US stock finished quite without any distinguished variation due to the lack of stimulus. The petrol price continues to increase but the Gold price falls slowly.

In Focus
Today, the focus is on a series of high impact economic events and published indicators:
AT 12H30 GMT: The Building Permits released by the Statistics Canada shows the number of permits for new construction projects.
At 14H00 GMT: JOLTS Job Openings is a survey done by the US Bureau of Labor Statistics to help measure job vacancies.

GRAPHIC 1: EURUSD HOURLY CHART (SEPTEMBER 10, 2019)

The EURUSD pair follows a ranging movement inside the colored channel. The market is quite without significant information’s. It is interesting to sell at the top of the channel and buy at the bottom or to sell when the Stock RSI indicator is higher than 80 and to buy when this indicator is lower than 20 and the red line cross the blue line. A break of the channel can be realized at the times of the events in FOCUS then a significant new trend could be considered.

GRAPHIC 2: USDCAD HOURLY CHART (SEPTEMBER 10, 2019)

The USDCAD pair follows a ranging movement inside the colored channel. The market is quite without significant information’s. It is interesting to sell at the top of the channel and buy at the bottom or to sell when the Stock RSI indicator is higher than 80 and to buy when this indicator is lower than 20 and the red line cross the blue line. A break of the channel can be realized at the times of the events in FOCUS then a significant new trend could be considered.

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