Will Euro rise or fall on CPI

So, the last day of the week and the last day  of the month has come. Interesting mixture! What do I expect for today. Now, you must know that I like going with the flow and wherever market takes me. If the news pushes Euro up, I go up. If it pushes Euro down, I will go down. Be prepared to trade in both directions by using limit orders. 9:00 GMT is approaching very fast. Two hours left.

I was inclined to think that Euro will fall by the end of the week, but looking at price action it is not likely. Both eur/usd and even eur/gbp look pretty strong now. So, let us follow the rule of following market first. And let us leave our opinions for the next time.

And do not forget that news from Canada will also have serious impact on the market. That is due at 12:30 GMT.

Data from Europe and Canada tomorrow

Tomorrow is pretty important day. We may see fundamental things rock the Forex market at large. The first one is Euro zone consumer price index (cpi). It comes at 9:00 GMT. Be aware of that as Euro pairs will probably have significant impact from the event. The second one is Canadian gross domestic product (GDP). It comes out at 12:30 GMT. As you may understand all Canadian dollar pairs will be moved by the news. So, if you enjoy trading fundamental events be ready with your charts and specific currencies around the times I mentioned above. Good luck!

News from Canada can cause loonie to collapse

Hi, folks. We are having quite a lot of important releases this week. Today is very significant, because Bank of Canada will announce its' interest rate decision. As you may see most of Canadian dollar pairs have been in pretty ugly ranges. Some tried to make new highs: such as usd/cad and gbp/cad, but failed. I guess today will be the day  when the loonie will collapse. Of course, this is just my speculation, but do not forget that interest rate decisions are the most important fundamental events in Forex market. So, be sure to watch what happens at 14.00 GMT today.

I am also expecting Euro to go down against US dollar and finally breach 1.2800 level and then go to last year low of around 1.2000. It may take some time. Friday may be key for Euro as we have Euro zone consumer price index coming out. That should send eur/usd and eur/gbp to their lows. I am already short eur/gbp and if Friday sees a breakout lower I will add to my position in the pair and likewise in Euro dollar short. Ok, enough for today. Hope to update my blog soon.