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5 Feb 2015
EUR/CAD: 1.38/1.45 range persists - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted that there’s no real change to report in EUR/CAD from a short-term technical perspective, although suggest that risks are perhaps skewed to a test of the lower end of the trading range.
Key Quotes:
"The cross has chopped around the upper 1.42 area for most of the week in very non-committal fashion but the shorter-term charts retain a positive undertone—trend momentum is constructive on the daily and 6-hour studies and short-term trading patterns suggest some upside risk above 1.4350 intraday."
"We are neutral here from a longer-term point of view and rather think that, after failing against resistance around 1.45 again, risks are perhaps skewed to a test of the lower end of the trading range. We can’t get too excited here directionally while the cross remains between 1.38/1.45.
Key Quotes:
"The cross has chopped around the upper 1.42 area for most of the week in very non-committal fashion but the shorter-term charts retain a positive undertone—trend momentum is constructive on the daily and 6-hour studies and short-term trading patterns suggest some upside risk above 1.4350 intraday."
"We are neutral here from a longer-term point of view and rather think that, after failing against resistance around 1.45 again, risks are perhaps skewed to a test of the lower end of the trading range. We can’t get too excited here directionally while the cross remains between 1.38/1.45.