Technical Analysis – EURCAD sets sight on peak despite recent correction

EURCAD continues to focus on the recent 23-month-peak of 1.5817 even after a pullback below the 1.5449 level, which is the 23.6% Fibonacci retracement of the up leg from the 1.4263 to 1.5817.

The picture appears to suggest that further advances could unfold, aided by the recent bullish crossover in the stochastic lines with room to move, as well as the nearing of a bullish cross between the 200-day simple moving average (SMA) and the 100-day one. Moreover, the upward sloping Tenkan-sen line has distanced itself above its blue Kijun-sen line, while the MACD, well into the positive region, holds above its red trigger line.

However, traders need to be aware of the flattened blue Kijun-sen line (at the 50.0% Fibo) and the RSI that has just slipped below the 70 mark, warning of downside corrections.

Heading north, immediate resistance could come from the 1.5657 hurdle ahead of the multi-month top of 1.5817, which coincides with the inside swing low from back in March of 2018. Conquering the summit, the 1.5925 and 1.6076 obstacles from April and March of 2018 respectively could be next to test the ascent.

Otherwise, if sellers push below the 1.5449 level, support could then rest at the 1.5286 low. Steering down, the 38.2% Fibo of 1.5223 and the 1.5146 support from June 2019 could impede the pair from reaching the 50.0% Fibo of 1.5040 and inside swing highs of 1.4994 and 1.4976.

Overall, a positive near-term picture looks to remain if the pair holds above 1.5286, with a close above 1.5817 cementing further advances.


US Open Note – Stocks wane and dollar improves

Technical Analysis - WTI futures’ positive impetus under pressure

Daily Market Comment - Are investors sleeping on systematic risk in China?

Technical Analysis – AUDUSD hovers marginally above 0.7300; weak momentum

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明