17 Feb 2015
EUR/CAD: More weakness in months ahead - TDS
FXStreet (Guatemala) - Analysts a TD securities explained that EUR/CAD retains a soft bias.
Key Quotes:
"But the cross is still range-bound in a broader sense."
"We think the early February rejection of the 200-day MA means more risks of a drop back to the lower end of the range but perhaps not much more than 1.38/1.40 for the moment."
"Directionally, we are neutral between 1.45/1.38 but we still rather think the overall (long-term) picture favours more weakness in the months ahead so we would prefer to sell strength and add to (or initiate) EUR shorts on a clear move below 1.38."
Key Quotes:
"But the cross is still range-bound in a broader sense."
"We think the early February rejection of the 200-day MA means more risks of a drop back to the lower end of the range but perhaps not much more than 1.38/1.40 for the moment."
"Directionally, we are neutral between 1.45/1.38 but we still rather think the overall (long-term) picture favours more weakness in the months ahead so we would prefer to sell strength and add to (or initiate) EUR shorts on a clear move below 1.38."