OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: EUR/CAD minor corrections to remain limited to low 1.33 area – TD Securities

FXstreet.com (Barcelona) - TD Securities analysts observe that short-term patterns look somewhat less constructive for the cross now after this week’s set-back for the bullish scenario and decent selling above 1.35. “Overall, we still think the main directional risk here is higher. Strong rejections of the 1.30 area on the short and medium term charts plus an inverse (bullish) H&S formation (neckline triggered in the low 1.33s) and the move above the 40-day MA all point higher for the EUR in the near-to-medium term”, wrote analysts Shaun Osborne and Greg Moore, seeing positive short-term trend momentum for the EUR, “so we rather look for minor corrections to remain limited to the low 1.33 area (neckline retest)”.

Weidmann opens the door to an ECB rate cut and foresees a lost decade in Europe

Jens Weidmann, the Bundesbank’s president, has affirmed that the European Central Bank could cut its interest rates if economic data continues worsening, according to an interview published by WSJ.
Read more Previous

Forex: CHF/JPY finds support after decline

Having made a daily high this morning, CHF/JPY has declined sharply ahead of the US session and declined to find support.
Read more Next
Start livechat