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14 Apr 2015
EUR/CAD less dramatic and settles on the IMF news
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.3320 with a high of 1.3374 and a low of 1.3255.
EUR/CAD is up to test the commitment of the bears while the greenback has been shunned and the euro has taken flight, albeit turning south currently. The dominant theme today has been the IMF downgrading growth forecasts for the US economy on a number of basis. the price of Oil was one of the major variables in their assessment. It is expected to hinder global growth, dampening the prospects for the worlds largest economy.
USD/CAD went from 1.2590 to 1.2443 the low on two hourly sticks on the charts in a long squeeze but is now starting to recover on profit taking. EUR/CAD was less dramatic caught in the middle with a favouritism on the bid yet is now starting to consolidates as the US session moves along and digests the IMF news.
Analysts at TD Securities explained, that technically, so far, gains back through the low 1.33 area have failed to stick but a short-term rebound (to the mid/upper 1.34s) would not surprise and would not detract from the broader bear trend.
EUR/CAD is up to test the commitment of the bears while the greenback has been shunned and the euro has taken flight, albeit turning south currently. The dominant theme today has been the IMF downgrading growth forecasts for the US economy on a number of basis. the price of Oil was one of the major variables in their assessment. It is expected to hinder global growth, dampening the prospects for the worlds largest economy.
USD/CAD went from 1.2590 to 1.2443 the low on two hourly sticks on the charts in a long squeeze but is now starting to recover on profit taking. EUR/CAD was less dramatic caught in the middle with a favouritism on the bid yet is now starting to consolidates as the US session moves along and digests the IMF news.
Analysts at TD Securities explained, that technically, so far, gains back through the low 1.33 area have failed to stick but a short-term rebound (to the mid/upper 1.34s) would not surprise and would not detract from the broader bear trend.