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22 Jun 2015
EUR/CAD technically and fundamentally bullish
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.3985 with a high of 1.4023 and a low of 1.3868.
EUR/CAD bid on Greece
EUR/CAD is somewhat sidelined, albeit comes with a bullish bias on the back of recent optimism that a deal between EU officials and Athens could be struck this week. there have been positive announcements from key officials in respect of how he talks have been going as we approach the summit today in Europe. It is unlikely that there will be a statement though and markets will just have to wait and see of the outcome in day's ahead. This is favouring the right hand side of the price in the cross.
EUR/CAD upside bias
Technically, the early June turn lower from 1.41+ levels looks emphatic on the charts—and rejects long-term trend resistance as well as the 200-day MA as explained by analyst at TD Securities (TDS). However, as noted by TDS, the EUR has failed to make any (lasting) impression on support at 1.3800/05—a huge pivot point for the market this year and also the neckline for large, well-defined inverse Head & Shoulder formation. "The fact that the EUR continues to hold above 1.38 may be important and tilts risks towards the topside (and 1.45/1.46) still overall. Pressure is building for more dynamic movement as ranges compress."
EUR/CAD bid on Greece
EUR/CAD is somewhat sidelined, albeit comes with a bullish bias on the back of recent optimism that a deal between EU officials and Athens could be struck this week. there have been positive announcements from key officials in respect of how he talks have been going as we approach the summit today in Europe. It is unlikely that there will be a statement though and markets will just have to wait and see of the outcome in day's ahead. This is favouring the right hand side of the price in the cross.
EUR/CAD upside bias
Technically, the early June turn lower from 1.41+ levels looks emphatic on the charts—and rejects long-term trend resistance as well as the 200-day MA as explained by analyst at TD Securities (TDS). However, as noted by TDS, the EUR has failed to make any (lasting) impression on support at 1.3800/05—a huge pivot point for the market this year and also the neckline for large, well-defined inverse Head & Shoulder formation. "The fact that the EUR continues to hold above 1.38 may be important and tilts risks towards the topside (and 1.45/1.46) still overall. Pressure is building for more dynamic movement as ranges compress."