13 Feb 2015
EUR/CAD: Range bound until 1.3800/1.4500 breaks - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that the EUR/CAD remains range bound.
Key Quotes:
"Despite a strong rise in the cross earlier in the week, the market’s decline today reinforces the strength of overhead resistance defined by the 200-day MA (1.4367 today) and the broader band of resistance (range ceiling) between 1.44/1.45."
"Intraday price action looks soft, strongly suggesting that a short-term peak is in for the market here, even though there is little evidence of a strong reversal unfolding on the daily charts—aside from the scale of the EUR’s losses so far."
"No change on views here. We probably won’t have a change of views unless or until the EUR breaks 1.38/1.45 on a sustained basis."
Key Quotes:
"Despite a strong rise in the cross earlier in the week, the market’s decline today reinforces the strength of overhead resistance defined by the 200-day MA (1.4367 today) and the broader band of resistance (range ceiling) between 1.44/1.45."
"Intraday price action looks soft, strongly suggesting that a short-term peak is in for the market here, even though there is little evidence of a strong reversal unfolding on the daily charts—aside from the scale of the EUR’s losses so far."
"No change on views here. We probably won’t have a change of views unless or until the EUR breaks 1.38/1.45 on a sustained basis."