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28 Mar 2014
EUR/CAD reversing trend?
FXStreet (Guatemala) - EUR/CAD has turned away from the lows breaking onto the 1.52 handle and exceeding 1.5220 resistance at the end of the week.
EUR/CAD has been sliding steadily for the most part of the week and reached a low of 1.5078 on the day.
EUR/CAD bouncing strongly
Strategists at TD Securities noted that the pair has bounced strongly intraday but the damage to the long-tem rally has been done. “We expect resistance to emerge at or near the 1.5330 level from here—the pivotal point around which the market has traded over the past month”.
EUR/CAD short term
The strategists at TD Securities explained that short-term price signals suggest a near-term low may have been reached in the cross today but losses below key trend and moving average support for the week overall and a turn in trend momentum against the EUR suggest a period of corrective movement, possibly retesting the 1.50 line ahead”.
EUR/CAD Levels
The 20 DMA is 1.5370, the 50 DMA is 1.5200 and the 200 DMA is 1.4355. RSI (14) reads 60.02. Supports are ascending from 1.4835,1.4905,1.4995
,1.5100, 1.5140, and 1.5200. Spot is 1.5228 targeting 1.5315, 1.5445, 1.5585 and 1.5600.
EUR/CAD has been sliding steadily for the most part of the week and reached a low of 1.5078 on the day.
EUR/CAD bouncing strongly
Strategists at TD Securities noted that the pair has bounced strongly intraday but the damage to the long-tem rally has been done. “We expect resistance to emerge at or near the 1.5330 level from here—the pivotal point around which the market has traded over the past month”.
EUR/CAD short term
The strategists at TD Securities explained that short-term price signals suggest a near-term low may have been reached in the cross today but losses below key trend and moving average support for the week overall and a turn in trend momentum against the EUR suggest a period of corrective movement, possibly retesting the 1.50 line ahead”.
EUR/CAD Levels
The 20 DMA is 1.5370, the 50 DMA is 1.5200 and the 200 DMA is 1.4355. RSI (14) reads 60.02. Supports are ascending from 1.4835,1.4905,1.4995
,1.5100, 1.5140, and 1.5200. Spot is 1.5228 targeting 1.5315, 1.5445, 1.5585 and 1.5600.