Back
10 Dec 2014
EUR/CAD lifted significantly - TDS
FXStreet (Barcelona) - Analysts at TD Securities explained that the CAD’s broader under-performance alongside a squeeze higher in the EUR today have combined to lift the cross quite significantly.
Key Quotes:
“We had expected resistance in the 1.42 area to cap EUR gains but a push through moving average and the highs from the past month suggest that a deeper squeeze cannot be ruled out”.
“1.4311 trend resistance is key now and slightly more positive short-term trend momentum readings suggests that the push up may extend a little more”.
“Above 1.4310/15 will allow the EUR a retest of the 1.45 area and sustained, new short-term cycle highs might change the technical complexion here a fair bit”.
Key Quotes:
“We had expected resistance in the 1.42 area to cap EUR gains but a push through moving average and the highs from the past month suggest that a deeper squeeze cannot be ruled out”.
“1.4311 trend resistance is key now and slightly more positive short-term trend momentum readings suggests that the push up may extend a little more”.
“Above 1.4310/15 will allow the EUR a retest of the 1.45 area and sustained, new short-term cycle highs might change the technical complexion here a fair bit”.