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FxWirePro: EUR/CAD short-term trend slides through falling wedge, major trend spikes between rising channel – Tunnel spread to trade and short hedge

Short-term trend analysis:

Short term downtrend drifts through falling wedge

Every upswing is restrained below 21DMA and channel resistance, for now, the current prices goes non-directional but with little potential on downside

Strong supports are seen at 1.4741 and stiff resistance is seen at 1.4780 levels

The current prices slid well below SMAs (refer 4H chart).

Long-term trend analysis:

Major trend stuck in non-direction, but spikes in rising channel pattern

Hammers pops up at every channel base to prop up rallies & shooting stars at every channel resistance to plummet prices,

The current prices on broader perspective are hovering at 7EMA, leading oscillators signal overbought pressures (refer monthly chart).

Trade tips:

For the daily trading, contemplating above technical rationale, tunnel spreads are best suitable. So, snap the rallies to deploy higher strikes at 1.4780 in the binary puts, while shorting lower strikes at 1.4741 levels simultaneously.

Alternatively, at this juncture, on hedging grounds, we recommend shorting mid-month month futures as the underlying spot FX likely to target towards 1.4406 levels in the medium run.

Writers in a futures contract are expected to maintain margins in order to open and maintain a short futures position.

Currency Strength Index: FxWirePro's hourly EUR spot index is inching towards 64 levels (which is bullish), while hourly CAD spot index was at shy above 29 (mildly bullish) while articulating (at 10:12 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex.

FxWirePro launches Absolute Return Managed Program. For more details, visit: 

http://www.fxwirepro.com/invest

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June 22 14:30 UTC Released

USECRI Weekly Annualized

Actual

3.1 %

Forecast

Previous

2.7 %

June 22 14:30 UTC Released

USECRI Weekly Index

Actual

150.1 %

Forecast

Previous

149.3 %

January 31 00:00 UTC 206169206169m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 206169206169m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 217989217989m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 206169206169m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 217989217989m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 206169206169m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 206169206169m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 206169206169m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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