EUR/CAD’s rally stalling?

FXstreet.com (London) – EUR/CAD‘s rally has stalled slightly above the 1.43 level again.

Strategists at TD Securities said the pair has left a bearish “doji” candle on the daily chart. “The cross has come back better supported today but the market is currently holding in an “inside range” formation. This keeps the near-term tone of the charts more neutral than anything, no new highs but no follow-through selling interest either”. Further more, they explained that trend momentum remains positive for the EUR and the market is respecting the broader, bullish trend channel. “But the cross also looks quite extended (overbought) …read more