26 Jan 2015
EUR/CAD making a minor recovery up to 1.4046
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.4019 with a high of 1.4046 and a low of 138.26.
EUR/CAD has been bid on the day, making a minor recovery from down at 1.3805 while range bound post the fall below the 1.4000 handle. Analysts at TD Securities explained that the 1.40/1.45 range that prevailed for much of Q4 is still something of a reference pointer for us and the decline in trend momentum overall (to more neutral levels from a directional perspective at least) reaffirms the sideways trend in the market at the moment.
"Intraday gains in the cross are strong enough so far to suggest the risk of a push back to the 1.44/45 area near-term (if sustained through the close) but we would still prefer to look to fade EUR rallies overall in the weeks ahead. We still rather think the trend, such as it is, points to a push back to 1.35 (or lower)."
EUR/CAD has been bid on the day, making a minor recovery from down at 1.3805 while range bound post the fall below the 1.4000 handle. Analysts at TD Securities explained that the 1.40/1.45 range that prevailed for much of Q4 is still something of a reference pointer for us and the decline in trend momentum overall (to more neutral levels from a directional perspective at least) reaffirms the sideways trend in the market at the moment.
"Intraday gains in the cross are strong enough so far to suggest the risk of a push back to the 1.44/45 area near-term (if sustained through the close) but we would still prefer to look to fade EUR rallies overall in the weeks ahead. We still rather think the trend, such as it is, points to a push back to 1.35 (or lower)."