- Analytics
- News and Tools
- Market News
- EUR/CAD to push towards 1.39/1.40 on a clear break above 1.3755 – Scotiabank
EUR/CAD to push towards 1.39/1.40 on a clear break above 1.3755 – Scotiabank
EUR/CAD pressures key resistance in the mid-1.37s. A break above the latter would open up additional gains toward the 1.39/1.40 area, economists at Scotiabank report.
Clear reduction in bearish technical pressure
“EUR/CAD price action reflects a clear reduction in bearish technical pressure. The EUR is nearing the mid-1.37 zone that has served as a cap on the market since early April; a break above this point – on a consistent basis – is needed to really signal a change in tone for the cross.”
“We think a clear break above 1.3755 targets a push to 1.39/1.40.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
