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NZD/CAD has the tendencies to rally during summer periods(see Figure 1) or at least to make a pause in the trend and stay inside a range. We can see that right from the first few days of Jun the market is starting to rally and more often it puts in place a major swing low. The seasonality are a strong tool to use but they never must be used alone and in combination with other technical tools, because the seasonality it only gives us the tendencies of what we should expect the marke…
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EUR/USD Bull Traps
This morning just after the London open some market commentary were crossing the market from ECB's Nowotny who said:" The outlook for Europe as a whole is much better than a year ago; monetary policy has contributed substantially to economic recovery; it’s a positive sign that banks are repaying long-term funding; ECB prepared to be watchful; helpful for interest rate policy if price stability ensured; sees neither inflation or deflation in short or medium term for Eurozone."
And it seems that …