In light of the recent run up in the EURCAD, the pair looks poised to end the week above 1.3200, and we will look for an opportunity to buy the pair next week as the double-bottom gathers pace. Following the failed run at the 100-Day SMA (1.3338), we are waiting to buy the euro-loonie on a pullback, and would like to get in if we see the exchange rate fall back towards the 20-Day SMA at 1.3114.
Euro Cross Pick 03.23.2012
- Nov, 25 19:10 GMTLooking to sell a failure in USD/CAD
- Nov, 24 13:30 GMTBearish AUDJPY as Topping Pattern Matures, Awaiting Key Support Break
- Nov, 23 15:25 GMTOil Traders Prepare for a Breakout on WTI Consolidation
- Nov, 21 01:15 GMTAnalyst Pick: EUR/JPY Well-Positioned for a Rough End-of-Year
- Nov, 20 19:40 GMTEUR/GBP Eyes July Low Ahead of ECB Rhetoric, BoE Testimony