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19 May 2015
SEB: USD/CAD rapidly homing in on a 1.2205 test – eFXnews
FXStreet (Barcelona) - The Technical Strategy Team at SEB Group, shares the intraday technical outlook for USD/CAD, as noted by eFXnews.
Key Quotes
“The two consecutive false downside breaks (parts of the triple bottom) and the bullish divergence has now turned the tide and the pair is accordingly rapidly moving higher towards the triple bottom confirmation point, 1.2205. A break, which we find highly likely, will thereafter put the 55d ma band in play. Also the CAD/JPY top is playing out well with a massively bearish candle printed yesterday.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The two consecutive false downside breaks (parts of the triple bottom) and the bullish divergence has now turned the tide and the pair is accordingly rapidly moving higher towards the triple bottom confirmation point, 1.2205. A break, which we find highly likely, will thereafter put the 55d ma band in play. Also the CAD/JPY top is playing out well with a massively bearish candle printed yesterday.”
This content has been provided under specific arrangement with eFXnews.