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FxWirePro: EUR/CAD struggles at 200-DMA, good to go long on break above

EUR/CAD chart on Trading View used for analysis

  • EUR/CAD is trading 0.37% higher on the day at 1.5268 at the time of writing.
     
  • The pair finds stiff resistance at 200-DMA and decisive break above to see further upside.
     
  • Technical indicators are biased higher. RSI is above 60 with toom to run further.
     
  • Momentum studies are billush and we see the RSI and Stochs are nicely converging with price action.
     
  • Break above 200-DMA finds next resistace at 38.2% Fib at 1.5289, 1.5371 (Sept 6 high), 1.5454 (50% Fib).
     
  • On the flipside, rejection at 200-DMA could see weakness till 23.6% Fib at 1.5085. 

Recommendation: Good to go long on breakout at 200-DMA, SL: 1.5204, TP: 1.53/ 1.5370/ 1.5450

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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June 26 15:30 UTC Released

BRForeign Exchange Flows

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0.343 Bln USD

Forecast

Previous

2.761 Bln USD

June 26 14:30 UTC Released

USEIA Weekly Gasoline O/P

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0.089 M

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Previous

0.147 M

January 31 00:00 UTC 736802736802m

ARAnnual Primary Balance*

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2016 bln ARS

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 748622748622m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 736802736802m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 748622748622m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 736802736802m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 736802736802m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 736802736802m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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