Fundamental Analysis:
I would interpret the provided economic indicators to suggest that the Canadian dollar (CAD) has stronger fundamentals than the Euro (EUR) at present. While both countries have a stagnant GDP growth rate, the Canadian economy has shown resilience due to its robust exports to the US, particularly in the context of the post-pandemic recovery.
The CAD's lower unemployment rate and lower inflation rate compared to the EUR also reflect a stronger economic position. Finally, while the EUR's negative balance of trade exacerbates its economic weaknesses, the CAD's positive balance of trade adds to its economic strength. Overall, I would consider a bearish outlook for EUR/CAD, as the fundamentals favor the CAD over the EUR in the current economic environment.
Technical Analysis:
as you can see price made double bottom and the neckline breakout, I think price should continue to push forward after correction around 1.46100
Target: 1.48, 1.49
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I would interpret the provided economic indicators to suggest that the Canadian dollar (CAD) has stronger fundamentals than the Euro (EUR) at present. While both countries have a stagnant GDP growth rate, the Canadian economy has shown resilience due to its robust exports to the US, particularly in the context of the post-pandemic recovery.
The CAD's lower unemployment rate and lower inflation rate compared to the EUR also reflect a stronger economic position. Finally, while the EUR's negative balance of trade exacerbates its economic weaknesses, the CAD's positive balance of trade adds to its economic strength. Overall, I would consider a bearish outlook for EUR/CAD, as the fundamentals favor the CAD over the EUR in the current economic environment.
Technical Analysis:
as you can see price made double bottom and the neckline breakout, I think price should continue to push forward after correction around 1.46100
Target: 1.48, 1.49
"Don't forget to like"
.
.
.
.
.
.
"Thanks for giving your time to read my article."
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.