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8 Oct 2013
EUR/CAD more to go to the upside?
FXstreet.com (London) - EUR/CAD is up on Friday’s free-fall and broken up through yesterdays sideways channel.
Research teams at TD Securities said, “The cross remains well-supported on an underlying basis above short-term moving averages and with the help of solidly aligned trend momentum signals but we are still less than enthusiastic about the prospects for a significant extension higher here at the moment”. They continued and said, “Note that 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”.
EUR/CAD Levels
The 20 DMA is 1.3895, the 50 DMA is 1.3860 and the 200 DMA is 1.3495. RSI (14) reads 69.12. Supports are ascending from 1.3790, 1.3840, 1.3890, 1.3930 and 1.4000. Spot is 1.4069 while resistances are 1.4125, 1.4175 and 1.4195.
Research teams at TD Securities said, “The cross remains well-supported on an underlying basis above short-term moving averages and with the help of solidly aligned trend momentum signals but we are still less than enthusiastic about the prospects for a significant extension higher here at the moment”. They continued and said, “Note that 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”.
EUR/CAD Levels
The 20 DMA is 1.3895, the 50 DMA is 1.3860 and the 200 DMA is 1.3495. RSI (14) reads 69.12. Supports are ascending from 1.3790, 1.3840, 1.3890, 1.3930 and 1.4000. Spot is 1.4069 while resistances are 1.4125, 1.4175 and 1.4195.