EUR/CAD - Euro Canadian Dollar, European Session - 16/05/08
1,5491. EUR CAD is in a range between 1,5430 and 1,5600. EUR CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 1,5400. The price should continue to move in Bollinger bands. We won’t take a position. The risk/reward ratio is too high to take a position..
- Resistances
- 1,5500 - 1,5600
- Supports
- 1,5430 - 1,5400
This entry was posted on Friday, May 16th, 2008 at 7:37 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a Reply
Forex News
- GFT Daily Market Commentary
- GFT Daily Market Commentary
- Forex - Dollar was under pressure after disappointing housing sector news
- Forex - Dollar rallied on Wednesday supported by drop in Oil prices and improved confidence in financial sector
- GFT Daily Market Commentary
- GFT Daily Market Commentary
- GFT Daily Market Commentary
- Forex - Forex market believe the worst of the problems in the US financial system are not yet over
- Forex - Dollar ended last week higher after smaller-than-expected loss from Citigroup
- GFT Daily Market Commentary