26 Mar 2015
EUR/CAD moving into a wide chop? - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that the EUR/CAD is likely stalling into a choppy range.
Key Quotes:
"The rebound in EUR/CAD has stalled more or less where we thought it might—a bit more obviously now, with the EUR backing off the upper 1.37 area in quite meaningful fashion."
"Depending on where we close the session, the cross may be forming a bearish engulfing line on the daily. Weakness below 1.3604—the consolidation/bear flag base—would signal renewed losses for the EUR."
"We note that daily trend momentum readings are very slack, so the impetus for a push lower on a sustained basis is not there at the moment. We may be settling into a wide, choppy range."
Key Quotes:
"The rebound in EUR/CAD has stalled more or less where we thought it might—a bit more obviously now, with the EUR backing off the upper 1.37 area in quite meaningful fashion."
"Depending on where we close the session, the cross may be forming a bearish engulfing line on the daily. Weakness below 1.3604—the consolidation/bear flag base—would signal renewed losses for the EUR."
"We note that daily trend momentum readings are very slack, so the impetus for a push lower on a sustained basis is not there at the moment. We may be settling into a wide, choppy range."