EURCAD - BEARISH BIAS
EUR - BEARISH
1️⃣ Investors fear that rising COVID-19 cases across Europe and the ongoing restrictive measures and vaccine delays could further hurt economic recovery.
2️⃣ EU leaders insisted during its March summit on the need to urgently accelerate the vaccination campaigns and agreed to keep restrictions in place for the time being, including on non-essential travel.
CAD - BULLISH
1️⃣ In the absence of significant fundamental drivers, the risk-on market environment seems to be making it easier for CAD to find demand.
=====
TECHNICAL
=====
- We are shorting this pair on SMA50 area + SBR level + fibo retracement level of 50-61.8% on H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
1️⃣ Investors fear that rising COVID-19 cases across Europe and the ongoing restrictive measures and vaccine delays could further hurt economic recovery.
2️⃣ EU leaders insisted during its March summit on the need to urgently accelerate the vaccination campaigns and agreed to keep restrictions in place for the time being, including on non-essential travel.
CAD - BULLISH
1️⃣ In the absence of significant fundamental drivers, the risk-on market environment seems to be making it easier for CAD to find demand.
=====
TECHNICAL
=====
- We are shorting this pair on SMA50 area + SBR level + fibo retracement level of 50-61.8% on H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
Trade closed: stop reached
❌ TRADE HAS HIT STOP LOSS-30 PIPS
EUR benefitted from the weaker dollar, while the CAD affected by declining oil price after WTI crude oil dropped 6% today.
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.
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.