8 May 2015
EUR/CAD heading lower – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team notes technicals suggest that EUR/CAD might see losses ahead.
Key Quotes
“The European currency was strong over 2 years but at the level around 1.550 the bears took the control. As against the most important currencies the euro began its fall and almost the whole 2014 it depreciated against the CAD. Not even the support level at 1.3369 could stop the fall, but the level around 1.3064.”
“Currently it is moving downward. The Momentum is showing that possible losses might occur. As inverse S+H+S pattern appears, signaling that longterm the price might fall.”
“Support Levels around 1.3369, 1.3064”
“Resistance Levels around 1.4504, 1.5291”
Key Quotes
“The European currency was strong over 2 years but at the level around 1.550 the bears took the control. As against the most important currencies the euro began its fall and almost the whole 2014 it depreciated against the CAD. Not even the support level at 1.3369 could stop the fall, but the level around 1.3064.”
“Currently it is moving downward. The Momentum is showing that possible losses might occur. As inverse S+H+S pattern appears, signaling that longterm the price might fall.”
“Support Levels around 1.3369, 1.3064”
“Resistance Levels around 1.4504, 1.5291”