9 Oct 2013
EUR/CAD supported on short term MA’s
FXstreet.com (London) - Research teams at TD Securities said the EUR/CAD remains well-supported on an underlying basis.
The teams said EUR/CAD is supported on short-term moving averages and with the help of solidly aligned trend momentum signals as it holds around 1.40. However, prospects for a significant extension higher here at the moment are less than clear, we feel.
EURCAD trend higher?
“The 28-day MA has crossed below the 40-day signal a minor negative and we continue to feel that the 1.41 area represents a potential high of some significance. The trend is higher but while the August peak at 1.4125 remain intact, we remain a little cautious. Loss of short-term trend support at 1.3997 should see EUR/CAD fall a big figure or so at least”.
The teams said EUR/CAD is supported on short-term moving averages and with the help of solidly aligned trend momentum signals as it holds around 1.40. However, prospects for a significant extension higher here at the moment are less than clear, we feel.
EURCAD trend higher?
“The 28-day MA has crossed below the 40-day signal a minor negative and we continue to feel that the 1.41 area represents a potential high of some significance. The trend is higher but while the August peak at 1.4125 remain intact, we remain a little cautious. Loss of short-term trend support at 1.3997 should see EUR/CAD fall a big figure or so at least”.