Forexpros.com Daily Analysis - 19/07/2010

[forexpros]

ForexPros Daily Analysis July 19, 2010


Free webinar on ForexPros - Let's do some simple Trend Trading
Expert: Kellie Durazo
When: Tue, August 17, 2010, 10 ET

Why spend hours analyzing charts when you can learn a few simple trading strategies that are effective and easy to learn.

During this webinar, Kellie Durazo will teach you how to follow and trade the trend "making the trend your friend", enhancing your technical analysis and giving you more trading opportunities for profit in the fx market.



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Fundamental Analysis: Interest Rate Decision

The Bank of Canada (BOC) decision on short term interest rate. The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency. A higher than expected rate is positive/bullish for the CAD, while a lower than expected rate is negative/bearish for the CAD. The analysts predict a future reading of 0.75%.

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The Euro stopped only 8 pips into the resistance specified in Friday