x
Visit our new Mobile Website next time you access NetDania with your mobile device
Netdania News
FxWirePro: EUR/CAD momentary bulls backed by both momentum and trend, major uptrend struggles for momentum despite rising channel formation

Source FxWire Pro - Technicals Friday, 14 Sep, 2018 12:21:03 GMT
Back

EURCAD bulls jump above DMAs with bullish crossover, the stiff resistance is observed at 1.5214 levels. Bulls are shrugging off shooting star occurrence at 1.5174 levels, the demand and supply zone at 1.5214 levels is seen several times in the recent past.

If bulls manage to break-out this level, then we could foresee more rallies upon bullish DMA and MACD crossovers, the rallies upto the next stiff resistance at 1.5293 levels possible. 

While leading oscillators are also signalling the intensified bullish momentum as both RSI and stochastic curves are converging upwards.

On a broader perspective, Major trend spikes through rising channel, shooting star pops-up at channel resistance followed by dips, and hammer at channel support (refer monthly plotting), both leading and lagging indicators signal faded strength. You could very well observe as and when the prices touched channel baseline and top line, the price pattern behaves in an adverse way.

Both RSI and stochastic curves are showing the downward convergence to the price slumps (monthly). This indicates the lingering bearish sentiments. The lagging indicators have been indecisive but slightly bearish bias.

Hence, for today, contemplating above technical rationale, at spot reference: 1.5205 levels, bidding one touch binary call options with upper strikes at 1.5225 levels (i.e. about northward 20 pips from the spot level), the strategy would likely fetch us handsome yields with magnified effects as the underlying spot FX keeps rising.

Currency Strength Index: FxWirePro's hourly EUR spot index is at 40 (which is bullish), while hourly CAD spot index at 55 (bullish) at 12:03 GMT. For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex

Source: FxWire Pro - Technicals
© FxWire Pro 2018. 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
26285.10
219.8
0.84%
2907.06
17.86
0.62%
7497.65
63.15
0.85%
6320.01
68.82
1.10%
12171.21
115.88
0.96%
23833.50
662
2.86%
2699.95
48.16
1.82%
7304.65
39.55
0.54%
27010.00
145
0.54%
6195.30
16.3
0.26%
11278.90
-98.85
-0.87%
1198.20
-0.26
-0.02%
78.83
0.955
1.23%
1.16696
0.0001
0.01%
112.373
0.684
0.61%
1.31473
0.0002
0.02%
0.72211
0.0076
1.07%
1.29815
-0.0082
-0.63%
131.13500
0.806
0.62%
0.88750
-0.0001
-0.01%
147.73700
0.918
0.63%
0.96410
0.0014
0.15%
1.12517
0.0018
0.16%
0.65870
0.0025
0.39%
94.62600
0.122
0.13%
Top Gainers
Name
Last
+/-
%
27.75
27.74
277400.00%
18.66
9.81
110.85%
19.46
9.07
87.30%
0.04
0.02
79.64%
0.43
0.18
70.09%
0.67
0.21
46.06%
154.98
34.79
28.95%
3.53
0.78
28.36%
16.95
3.25
23.72%
3.33
0.54
19.36%
Top Losers
Name
Last
+/-
%
5.98
-2.12
-26.17%
0.01
0.00
-20.00%
9.00
-2.20
-19.64%
5.87
-1.21
-17.09%
0.04
-0.01
-15.88%
0.38
-0.07
-15.56%
6.50
-1.15
-15.03%
4.35
-0.75
-14.71%
0.85
-0.15
-14.63%
0.60
-0.10
-14.29%
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 -2018 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