FX.co ★ Oil Prices will Remain in Stalemate

Forecast of the day:

The EUR/USD pair is consolidating near the local maximum amid expectations of the outcome of the Fed meeting that begins today, as well as the new portion of economic data from the eurozone. The idea that the ECB will discuss the theme on incentives in the fall is already played and further upward dynamics of the euro. New drivers will be needed, although, it can still catch up locally to 1.1715.

The USD/CAD pair is trading near the April low of 2016 and may still fall slightly to 1.2445. However, there is still an increasing possibility for a correction to begin against a background of strong oversold. In this case, the price may rise to 1.2560 after a breakout in the 1.2515 mark.