30 Apr 2015
EUR/CAD bears relying on longer term trend momentum
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.3548 with a high of 1.3607 and a low of 1.3327.
EUR/CAD remains better bid with a recent score on the 1.36 handle and pulling back to the mid point of the 1.35 handle as the loonie attracts some interest on the 1.21 handle vs the greenback while EUR/USD changes hands in a wide chop between 1.1155/1.1250 and potentially headed for a triple top at 1.1220.
Analysts at TD Securities explained that the longer-term trend momentum remains bearish and suggested that the cross has its work cut out to improve significantly from here. "A return to the 1.37/1.38 zone—effectively the base of the broader sideways range in place through late 2014/early 2015— should attract sellers; sustained gains through here would imply a more significant trend change is underway, however."
EUR/CAD remains better bid with a recent score on the 1.36 handle and pulling back to the mid point of the 1.35 handle as the loonie attracts some interest on the 1.21 handle vs the greenback while EUR/USD changes hands in a wide chop between 1.1155/1.1250 and potentially headed for a triple top at 1.1220.
Analysts at TD Securities explained that the longer-term trend momentum remains bearish and suggested that the cross has its work cut out to improve significantly from here. "A return to the 1.37/1.38 zone—effectively the base of the broader sideways range in place through late 2014/early 2015— should attract sellers; sustained gains through here would imply a more significant trend change is underway, however."