EURCAD: Support breakout, continuation following retest?
We can see that EURCAD has been on a downtrend since the last week of August.
With Oil prices rising I think the fundamentals for the Canadian Dollar continue to look good, the EURO on the other hand doesn't have much going for it.
I have noted a break through support and looking for a short any time soon, there's minor support at 1.402 which will be my target, however I think this won't put up too much of a fight and we'll be down around 1.375 soon.
With Oil prices rising I think the fundamentals for the Canadian Dollar continue to look good, the EURO on the other hand doesn't have much going for it.
I have noted a break through support and looking for a short any time soon, there's minor support at 1.402 which will be my target, however I think this won't put up too much of a fight and we'll be down around 1.375 soon.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.