7 May 2015
SEB: USD/CAD sees a probable double-bottom - eFXnews
FXStreet (Barcelona) - The eFXnews Team shares that SEB believes the markets have nailed a potential double-bottom for USD/CAD in the short-term picture.
Key Quotes
“Price/momentum divergence should be noted as the market has nailed a potential "Double-bottom" in the short-term picture. This may be enough to keep the still ascending 233day exponentially weighted moving average band (1.1825/1.1725) out of reach.”
“But for confirmation of this setup, 1.2205 must be reclaimed. Follow-through to and beyond the 55day exponentially weighted moving average band (1.2250\1.2390) would also be good to see.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Price/momentum divergence should be noted as the market has nailed a potential "Double-bottom" in the short-term picture. This may be enough to keep the still ascending 233day exponentially weighted moving average band (1.1825/1.1725) out of reach.”
“But for confirmation of this setup, 1.2205 must be reclaimed. Follow-through to and beyond the 55day exponentially weighted moving average band (1.2250\1.2390) would also be good to see.”
This content has been provided under specific arrangement with eFXnews.