EURCAD - BEARISH BIAS
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MARKET OUTLOOK
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EUR - BEARISH
1️⃣ European Central Bank President Christine Lagarde said that monetary and fiscal stimulus needed to be maintained until there were signs of a strong and sustainable economic recovery.
2️⃣ The European zone's trade balance this week is expected to weaken due to weakness in the trade balance in Germany.
3️⃣ Industrial production data today is forecast to be low following the decline in industrial production in Germany.
CAD - BULLISH
1️⃣ The Canadian central bank was the first among advanced economies to slow the pace weekly of government bond purchases, now traders expect the next taper to come at the next monetary policy meeting on July 14th.
2️⃣ Crude oil prices rose above $70.9 per barrel on Monday amid signs of strong fuel demand in western economies.
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TECHNICAL
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We're shorting this pair on SBR level + SMA50 area + below Friday's high + Yesterday Pivot area on H1 chart.
MARKET OUTLOOK
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EUR - BEARISH
1️⃣ European Central Bank President Christine Lagarde said that monetary and fiscal stimulus needed to be maintained until there were signs of a strong and sustainable economic recovery.
2️⃣ The European zone's trade balance this week is expected to weaken due to weakness in the trade balance in Germany.
3️⃣ Industrial production data today is forecast to be low following the decline in industrial production in Germany.
CAD - BULLISH
1️⃣ The Canadian central bank was the first among advanced economies to slow the pace weekly of government bond purchases, now traders expect the next taper to come at the next monetary policy meeting on July 14th.
2️⃣ Crude oil prices rose above $70.9 per barrel on Monday amid signs of strong fuel demand in western economies.
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TECHNICAL
=====
We're shorting this pair on SBR level + SMA50 area + below Friday's high + Yesterday Pivot area on H1 chart.
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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.