EUR/CAD short term outlook

EUR/CAD short term outlook

• EUR/CAD has recovered to 1.4125 after making low of 1.3802. Canadian dollar is expected to trade weak further in the coming weeks after BOC surprised markets with 25bpbs rate cut in previous week.
  
  
• The pair's minor support is around 1.3880 and any break below will target 1.3800/1.3760.
  
  
• On the upside any break above 1.4175 will take the pair to 1.4278/1.4350 in short term.
  
  
• The minor support is around 1.4000.

Indicators (4 Hour chart)      

CCI (50) - Buy

CCI (14) - Buy

Ichimoku- Buy

Recommendation: Buy EUR/CAD around 1.4080-90, SL 1.4000, Targets 1.4350.