- Analytics
- News and Tools
- Market News
- EUR/CAD: Gains through 1.36 to clear the way towards 1.40 – Scotiabank
EUR/CAD: Gains through 1.36 to clear the way towards 1.40 – Scotiabank
EUR/CAD neared 1.36 earlier this week. The recovery needs to extend through this level to reach 1.40, economists at Scotiabank report.
Initial retracement resistance at 1.3606 is reachable
“Long-term (monthly) price action is supportive of a broader reversal developing; monthly candle patterns suggest a bullish ‘morning star’ reversal developed around the Aug low in the EUR.”
“Initial retracement resistance is 1.3606 (23.6% retracement of the 2020/21 decline from 1.5975/1.2875) and is reachable, we believe. Gains through here on a sustained basis target additional EUR appreciation towards 1.40 (38.2% retracement at 1.4062) in the medium-term.”
© 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
