EURCAD: Support breakout, continuation following retest?
We can see that EURCAD has been on a downtrend since the last week of August.
With Oil prices rising I think the fundamentals for the Canadian Dollar continue to look good, the EURO on the other hand doesn't have much going for it.
I have noted a break through support and looking for a short any time soon, there's minor support at 1.402 which will be my target, however I think this won't put up too much of a fight and we'll be down around 1.375 soon.
With Oil prices rising I think the fundamentals for the Canadian Dollar continue to look good, the EURO on the other hand doesn't have much going for it.
I have noted a break through support and looking for a short any time soon, there's minor support at 1.402 which will be my target, however I think this won't put up too much of a fight and we'll be down around 1.375 soon.