Bad EU data momentum trade (Apr 3)
Updated
Fundamentals & Sentiment
EUR:
There was a lower than consensus Inflation data and a bad Unemployment print. I use these as triggers for a short-term momentum trade.
CAD: Canadian economy is doing better than EU based on the main economic indicators. CAD is undervalued based on a few market internals (not EURCAD pairs though)
Technical & Other
Setup: S(RTF)
Setup timeframe: 1h
Trigger: 1h
Medium term: Down
Long-term: Range
Min target: April 2 low
Risk: 0.27%
Other: expected a rejection from the heavy MAs
EUR:
There was a lower than consensus Inflation data and a bad Unemployment print. I use these as triggers for a short-term momentum trade.
CAD: Canadian economy is doing better than EU based on the main economic indicators. CAD is undervalued based on a few market internals (not EURCAD pairs though)
Technical & Other
Setup: S(RTF)
Setup timeframe: 1h
Trigger: 1h
Medium term: Down
Long-term: Range
Min target: April 2 low
Risk: 0.27%
Other: expected a rejection from the heavy MAs
Trade closed manually
the price held above the MA + bad CAD data
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.