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27 Mar 2015
EUR/CAD: Under renewed pressure - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that EUR/CAD is under pressure.
Key Quotes:
"EUR/CAD's closing break of short-term trend/channel support following the failure against the base for the late 2014/early 2015 range in the upper 1.37s puts the cross under renewed pressure."
"The sell-off has been accompanied by a pick up in trend momentum—negatively—on the short-term charts, bringing trend momentum back into alignment with the longer-term studies. It suggests a swing back to a bearish bias for the cross overall."
"The EUR has popped a little higher intraday and there is a generally “skittish” feel to the market as we move into month end which may make near-term trends a little choppier. We would look to fade short-term gains from here again, however."
Key Quotes:
"EUR/CAD's closing break of short-term trend/channel support following the failure against the base for the late 2014/early 2015 range in the upper 1.37s puts the cross under renewed pressure."
"The sell-off has been accompanied by a pick up in trend momentum—negatively—on the short-term charts, bringing trend momentum back into alignment with the longer-term studies. It suggests a swing back to a bearish bias for the cross overall."
"The EUR has popped a little higher intraday and there is a generally “skittish” feel to the market as we move into month end which may make near-term trends a little choppier. We would look to fade short-term gains from here again, however."