x
Visit our new Mobile Website next time you access NetDania with your mobile device
Netdania News
FxWirePro: EUR/CAD hammer hammers the rallies again, bulls shrug-off bearish engulfing in bumpy ride – buzz yields via double touch calls

Source FxWire Pro - Technicals Thursday, 7 Dec, 2017 13:42:30 GMT
Back

Chart and candlestick patterns formed- Rising channel pattern, bullish engulfing pattern, hammer pattern candlesticks at channel resistance and baseline on daily and monthly plotting respectively.

The bullish rallies are shrugging off last Friday’s stern engulfing pattern at 1.5090 levels that have plunged the prices below DMAs. In the recent past, huge volatile price actions are observed but for now, upside traction is backed by leading oscillators in the bumpy ride.

Please be noted that the major trend has been drifting in non-directional phase bit with slightly upside traction is on especially after the recent occurrence of hammer pattern candles in the recent months.

Well, for now, the supports in intermediate trend are observed at 1.4678 (i.e. 21DMA levels), and any break below these levels can only be seen as the bearish sentiment which seems unlikely.

On the flip side, the stiff resistance is observed at 1.5145 levels, the short-term bullish sentiments are backed up by both leading oscillators.

RSI and stochastic curves are converging upwards. While both lagging indicators signal extension of the uptrend.

Trade tips: Contemplating above technical rationale, on trading perspective, it is advisable to buy double touch binary call for upside targets upto next stiff resistance of 1.5149 levels, the strategy is likely to fetch leveraged yields as the underlying spot most likely to retest on or before the expiry duration.

Currency Strength Index: FxWirePro's hourly EUR spot index has shown -64 (which is bearish), while hourly CAD spot index was at -108 (extremely bearish) while articulating at 13:24 GMT. For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit: 

http://www.fxwirepro.com/invest

© FxWire Pro 2017. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Find a Top Broker
Global
Forex
24423.00
4
0.02%
2662.97
0.12
0.00%
6402.50
0.3
0.00%
16709.70
94.9
0.57%
13153.65
-8.8
-0.07%
22951.50
5
0.02%
3314.27
-7.93
-0.24%
7458.25
52.05
0.70%
28930.00
-5
-0.02%
6005.20
-8.7
-0.14%
10322.25
56.6
0.55%
1244.57
1.72
0.14%
65.17
0.475
0.73%
1.17675
-0.0008
-0.07%
113.455
-0.089
-0.08%
1.33391
-0.0006
-0.05%
0.75325
0.0004
0.05%
1.28480
-0.0005
-0.04%
133.51200
-0.192
-0.14%
0.88212
-0.0001
-0.01%
151.34100
-0.2
-0.13%
0.99154
0.0002
0.02%
1.16685
-0.0007
-0.06%
0.69220
0.0015
0.22%
93.95100
0.018
0.02%
Top Gainers
Name
Last
+/-
%
5.53
3.58
183.59%
54.47
24.02
78.88%
3.61
1.16
47.35%
23.08
7.22
45.52%
6.30
1.89
42.86%
3.44
0.96
38.71%
3.71
1.02
37.92%
5.44
1.41
34.99%
5.33
1.38
34.94%
7.00
1.70
32.08%
Top Losers
Name
Last
+/-
%
0.52
-0.60
-53.57%
0.55
-0.45
-44.90%
47.72
-25.66
-34.97%
1.22
-0.58
-32.22%
8.45
-3.92
-31.69%
0.55
-0.17
-23.60%
1.50
-0.45
-23.08%
0.31
-0.08
-20.23%
0.02
-0.01
-19.87%
48.01
-9.80
-16.95%
NetDania does not guarantee the accuracy of data contained on this website, nor do we guarantee that data is real-time. Data on this website may be provided from OTC market sources and market makers, and not necessarily from exchanges. The provided price data is indicative and may not be appropriate for trading or decision making purposes. NetDania does not assume any responsibility for any losses incurred from the use of the provided data.
NetDania does not endorse or promote any broker or financial service. NetDania is a pure technology provider offering its software with broker integration. Any user of NetDania software must be an existing client of one of our supported brokers. NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract. No financial services are offered, promoted or recommended. NetDania is compensated as a technology provider by its institutional clients including its integrated brokers. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation affecting it.

Persons or entities including approved brokers not belonging to the NetDania Group may advertise on the NetDania and its Group’s websites, through links, banners or otherwise. We have not taken any steps to verify the accuracy, quality or reliability of any products, information or services provided by third parties that have links on our website. We accordingly provide no warranties with regard to and disclaim responsibility for any such products, information or services and exclude all liability in this regard to the fullest extent permitted by relevant laws and regulations. If a user of the NetDania Group’s websites decides to act upon any such advertising, such user does so entirely at its own risk.

NetDania’s website may be accessed worldwide. The Information provided on its website is however only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the offerings services referred to on this website are available to recipients residing in countries where the provision of such offerings would constitute a violation of mandatory applicable legislation or regulations. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation.

HIGH RISK INVESTMENT WARNING:
End-users of the NetDania software that make use of the trading integration features as direct clients of integrated brokers, should be aware of the level of risk carried by trading in financial markets. Trading foreign exchange and or other financial instruments on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or more of your initial investment, and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from your broker and or an independent financial advisor if you have any doubts. Anyone opening a live trading account needs to adhere to the laws of their local country as such laws may differ from country to country.
NetDania expressly disclaims any liability for any lost principal or profits which without limitation may arise directly or indirectly from the use of or reliance on information on our website or the use of our software with broker integration.
Copyright © 1998 -2017 NetDania Creations ApS, Kronprinsessegade 36, 1st floor DK-1306 Copenhagen K, Denmark, +4536980409, Contact NetDania by email, CVR-nr.27976670 Terms And Conditions and Privacy Policy