25 Mar 2015
EUR/CAD: A corrective rally into bear flag - TDS
FXStreet (Guatemala) - Analysts at TD Securities suggested that the EUR/CAD’s recovery from long-term (retracement) support at 1.3450 may be starting to show some signs of flagging.
"...May be starting to show some signs of flagging.right about where it might be expected to run into supply—the base of the range in place through late 2014/early 2015."
"The rally looks corrective, ahead of another leg lower possibly (bear flag formation in development). Intraday trading patterns look negative and we pay attention to short-term or intraday turns which come at important technical points like this."
"We need more information before we can draw any firm conclusions, however. Monitor."
"...May be starting to show some signs of flagging.right about where it might be expected to run into supply—the base of the range in place through late 2014/early 2015."
"The rally looks corrective, ahead of another leg lower possibly (bear flag formation in development). Intraday trading patterns look negative and we pay attention to short-term or intraday turns which come at important technical points like this."
"We need more information before we can draw any firm conclusions, however. Monitor."