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15 May 2015
EUR/CAD: Upside eyes 1.3765
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.3744 with a high of 1.3755 and a low of 1.3624.
EUR/CAD is extending the upside with a broad based rally in the euro. EUR/USD is making fresh highs on the 1.14 handle while the loonie is mixed vs the greenback. Analysts at TD Securities suggest that there is still a push higher to come.
"We have noted signs of obvious bargain-hunting or bottom-fishing on the short-term charts over the past week and we are not especially perturbed by the sideways movement that has ensured after the initial test of 1.3760 resistance. Longer-term price signals are positive, suggesting an important, medium-term base is trying to form."
"The daily chart looks potentially Head & Shoulder-ish (implies +730 ticks from a push above 1.3765) but the move should come sooner rather than later. We remain bullish and look for EUR gains to accelerate above 1.3765."
EUR/CAD is extending the upside with a broad based rally in the euro. EUR/USD is making fresh highs on the 1.14 handle while the loonie is mixed vs the greenback. Analysts at TD Securities suggest that there is still a push higher to come.
"We have noted signs of obvious bargain-hunting or bottom-fishing on the short-term charts over the past week and we are not especially perturbed by the sideways movement that has ensured after the initial test of 1.3760 resistance. Longer-term price signals are positive, suggesting an important, medium-term base is trying to form."
"The daily chart looks potentially Head & Shoulder-ish (implies +730 ticks from a push above 1.3765) but the move should come sooner rather than later. We remain bullish and look for EUR gains to accelerate above 1.3765."