EURCAD SELL SETUP
Short-term (intraday and daily) trend oscillators have moderated but bearish weekly and monthly DMI readings imply that this market retains a lot of underlying, downward momentum which will leave the EUR facing firm resistance on minor gains and ongoing downside risk.”
Stiff resistance above the market remains intact at 1.3290/00. At the very least, the EUR needs to regain – and hold above – this point to establish a stronger base for a reversal in what is now a very extended run lower in the EUR.
Stiff resistance above the market remains intact at 1.3290/00. At the very least, the EUR needs to regain – and hold above – this point to establish a stronger base for a reversal in what is now a very extended run lower in the EUR.
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