EUR/CAD snaps the range bound price action from last week as it slipped to a fresh monthly low (1.4465) on the last day of May, and the exchange rate may attempt to test the March low (1.4383) as it carves a series of lower highs and lows.
EUR/CAD Rate Outlook
EUR/CAD trades to a fresh weekly low (1.4446) after struggling to trade back above the 1.4600 (38.2% Fibonacci retracement) to 1.4640 (23.6% Fibonacci extension) region, with a move below the March low (1.4383) opening up 1.4360 (38.2% Fibonacci extension).
Next area of interest comes in around the February low (1.4239), but failure to test the March low (1.4383) may curb the recent decline in EUR/CAD, with a move above the 1.4600 (38.2% Fibonacci retracement) to 1.4640 (23.6% Fibonacci extension) region bringing the 50-Day SMA (1.4726) back on the radar.
Will keep a close eye on the moving average as it no longer reflects a positive slope.
EUR/CAD Rate Outlook
EUR/CAD trades to a fresh weekly low (1.4446) after struggling to trade back above the 1.4600 (38.2% Fibonacci retracement) to 1.4640 (23.6% Fibonacci extension) region, with a move below the March low (1.4383) opening up 1.4360 (38.2% Fibonacci extension).
Next area of interest comes in around the February low (1.4239), but failure to test the March low (1.4383) may curb the recent decline in EUR/CAD, with a move above the 1.4600 (38.2% Fibonacci retracement) to 1.4640 (23.6% Fibonacci extension) region bringing the 50-Day SMA (1.4726) back on the radar.
Will keep a close eye on the moving average as it no longer reflects a positive slope.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.