EURCAD Ahead Of The ECB Rate DecisionEURCAD Ahead Of The ECB Rate Decision
This week on THURSDAY, JULY 18 the market will focus on the ECB Interst rate decision.
The expectations are that the ECB may keep the rates on hold this time:
ECB Main Refinancing Operations Rate at 4.25%
ECB Rate On Deposit Facility at 3.75%
It will be followed also by a press conference but if ECB doesn't change rates we may see EURO correction lower again by showing some weakness.
Technical Analysis:
EURCAD is testing a strong resistance zone. A move above the red zone may push EURCAD further to 1.5120
On the other hand if the price will stop in the current zone it may move down further.
You may find more details in the chart!
Thank you and Good Luck!