Menu

Search

Menu

Search

FxWirePro: EUR/CAD breaks above daily cloud, intraday bias higher

EUR/CAD chart on Trading View used for analysis 

  • EUR/CAD breaks above daily cloud, scope for further gains.
     
  • The pair has erased some gains after hitting session highs at 1.5123.
     
  • The single currency under pressure after data showed German and Spanish inflation numbers missed expectations.
     
  • Further, ECB financial stability report, published earlier today said downside risks to global growth outlook are more pronounced and Euro-area financial stability environment has become more challenging.
     
  • Technical studies are biased higher. RSI and Stochs support upside.
     
  • Bullish continuation eyes 200-DMA at 1.5293. Break below daily cloud negates bullish bias. 

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.