EURO - Weak Bearish
1️⃣ Both Sentix and ZEW investor confidence are seen declining due to the rapid spread of the COVID-19 variant Delta in the region.
CAD - Strong Bullish
1️⃣ A risk-on market environment can support the strength of CAD.
2️⃣ Canada’s inflation rate rose to 3.7% in July, from 3.1% in the previous month.
3️⃣ The unemployment rate in Canada also dropped to 7.5% in July, reflecting the reopening of the country’s economy.
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Technical
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We are selling the EURCAD after it failed to break the resistance.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ Both Sentix and ZEW investor confidence are seen declining due to the rapid spread of the COVID-19 variant Delta in the region.
CAD - Strong Bullish
1️⃣ A risk-on market environment can support the strength of CAD.
2️⃣ Canada’s inflation rate rose to 3.7% in July, from 3.1% in the previous month.
3️⃣ The unemployment rate in Canada also dropped to 7.5% in July, reflecting the reopening of the country’s economy.
=====
Technical
=====
We are selling the EURCAD after it failed to break the resistance.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
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❌ TRADE HAS HIT SL
-50 PIPS
Risk-off sentiment weighed on the CAD
-50 PIPS
Risk-off sentiment weighed on the CAD