theforexportal
Short

EURCAD waiting for Draghi. SHORT for now.

FX:EURCAD   Euro / Canadian Dollar
16 views
2
16 0
EURCAD has pushed impressively north and has broken through critical resistance of the 200 day sma on the DTF. With studies overbought, a retrace looks inevitable from these levels.
As all EUR pairs, we await the outcome of ECB President Draghi's speech on Monday.
Anything remotely hawkish or even anything not dovish could set the euro on the path for bigger gains once resistance has been broken.

Trade idea
Look to SELL this market in anticipation of a cooler from Draghi.
STOP above recent highs at 1.4400.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out