#EURCAD #Short #EUR #CAD #Forex ↘
Updated
My view on the EURCAD currency pair is sell, although for a limited time and the time frame of this analysis is 1 hour.
However, do you think this will happen or not?
However, do you think this will happen or not?
Note
The German Ministry of Economy announced:The current primary indicators still do not indicate a sustainable economic recovery in the coming months, and at the same time, we see a decrease in dynamics in the labor market in the coming months.
For tomorrow in the Euro zone, we have German economic sentiment data.
And of course, Canadian inflation is also published.
Note
The Canadian dollar's weakness against the euro at the moment was due to the release of US consumer inflation expectations data, which fell to 3.5% from 3.8%.The Canadian dollar has a strong correlation with the US dollar.
Of course, this effect is momentary and continues until tomorrow before the release of the Euro zone data.
Note
If the German data for the euro zone is published better than expected, it is likely to grow to 1.47800.ZEW Economic Sentiment Index AUG
Previous: -14.7 Consensus: -14.7 Actual: ↗
Otherwise, we have to continue the correction.
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