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Technical Analysis Reports

Forex Center > News > Technical Analysis Reports

EUR/CAD - Euro Canadian Dollar, European Session - 20/11/08

19 Nov, 2008 @ 10:10 pm ET

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1,5687. EUR CAD is in an uptrend supported by 1H exponential moving averages. EUR CAD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,5600 (87 pips). The uptrend should continue to gather momentum. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances: 1,5670 - 1,5900
Supports: 1,5650 - 1,5530