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Eurcadshort

EURCAD - Bearish BiasEURO - Weak Bearish 1️⃣ In an ECB forum, ECB President Christine Lagarde noted that there are no signs of a recent widespread price hike in the economy, while promising that the ECB will be patient before undertaking policy tightening. 2️⃣ Eurozone Sentix Investor Confidence declined to 16.9 in October, from 19.6 in the previous month. 3️⃣ Eurozone retail sales in August were weaker than market forecasts. CAD - Weak Bullish 1️⃣ Rising crude oil prices support the strength of CAD. 2️⃣ In August, Canada’s trade surplus increased to CAD 1.94 billion, from CAD 0.74 billion in the previous month, and surpassed the market forecast of a CAD surplus of 0.43 billion. 3️⃣ Canada’s IVEY PMI is forecast to rise in September following the easing of restrictions. ===== Technical ===== We are selling the EURCAD after failed to break the resistance level. ===== 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.
Short
by MonsunAsia