Hello all,
EURCAD remained range-bound for a while between 1.49 and 1.495. This provided multiple 30-40 pip opportunities within this range. This week, we saw the euro gain strength during the US midterm elections, and we jumped right past 1.5 before double topping at 1.505. With a lack of significant fundamentals for both currencies for the rest of the week, I'm expecting the pair to stay within 1.495 and 1.505. Look for reversals at these areas for high probability trading opportunities.
EURCAD remained range-bound for a while between 1.49 and 1.495. This provided multiple 30-40 pip opportunities within this range. This week, we saw the euro gain strength during the US midterm elections, and we jumped right past 1.5 before double topping at 1.505. With a lack of significant fundamentals for both currencies for the rest of the week, I'm expecting the pair to stay within 1.495 and 1.505. Look for reversals at these areas for high probability trading opportunities.
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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.