EUR/CAD HEADING FOR 1.3800/1.3200 IN MEDIUM-TERM
16/07/2017
The directional movement for EUR/CAD to 1.3800 from 1.5200 already quoted previously and the pair is underway for that direction and currentlt at 1.4430. Read previous analysis.
The EUR/CAD’s long-term exchange rate target zone confirms the downward movement of the EUR/CAD in long-term. After pushed back to upward to central band/central parity, the EUR/CAD resumed back to move to downward from 1.5200.
The previous medium-term exchange rate target zone managed by the BoC and the ECB is 16 % (1.5850/1.3800) for 2050 PIPs. Based on the current medium-term exchange rate target zone alignment to downward, the EUR/CAD will break the 1.3800 and to visit the level of 1.3200 in medium-term.
At such, short/sell on EUR/CAD is recommendable for the medium-term exchange rate target zone (1.5200/1.3800/1.3200). Short/sell from the upper to the lower bands for daily, weekly, monthly and short-term will be update in this analysis. Long/buy not recommendable to avoid possible risk.
The directional movement for EUR/CAD to 1.3800 from 1.5200 already quoted previously and the pair is underway for that direction and currentlt at 1.4430. Read previous analysis.
The EUR/CAD’s long-term exchange rate target zone confirms the downward movement of the EUR/CAD in long-term. After pushed back to upward to central band/central parity, the EUR/CAD resumed back to move to downward from 1.5200.
The previous medium-term exchange rate target zone managed by the BoC and the ECB is 16 % (1.5850/1.3800) for 2050 PIPs. Based on the current medium-term exchange rate target zone alignment to downward, the EUR/CAD will break the 1.3800 and to visit the level of 1.3200 in medium-term.
At such, short/sell on EUR/CAD is recommendable for the medium-term exchange rate target zone (1.5200/1.3800/1.3200). Short/sell from the upper to the lower bands for daily, weekly, monthly and short-term will be update in this analysis. Long/buy not recommendable to avoid possible risk.
Canadian daily and weekly bands performance is mixed. Looking for USD/CAD and EUR/CAD at upper band and CAD/JPY and CAD/CHF at lower band to re-enter the market to long CAD/JPY and CAD/CHF and to short/sell USD/CAD and EUR/CAD in line to medium-term exchange rate target zone directionalmovement. Likely by tomorrow.