EUR - BEARISH
1️⃣ Concerns over rising COVID-19 cases, fresh lockdowns and the slow pace of vaccination.
2️⃣ The European Central Bank's economic bulletin showed that Euro Area economic indicators pointed to a fourth-quarter economic contraction.
3️⃣ The bloc's consumer prices remained in deflationary territory in December, while retail trade in November fell more than expected.
CAD - BULLISH
1️⃣ Coronavirus vaccination rollout is raising prospects of a swift economic recovery in the new year, although the pandemic is still far from controlled.
2️⃣ The Canadian economy advanced 0.4% in October, the 6th straight month of growth and the Manufacturing PMI for December was the strongest on record.
3️⃣ Rallied in oil prices boosted the CAD.
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Technical
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We are looking to sell the EURCAD below the resistance of 1.56200 + around SMA 50 on the H1 chart.
1️⃣ Concerns over rising COVID-19 cases, fresh lockdowns and the slow pace of vaccination.
2️⃣ The European Central Bank's economic bulletin showed that Euro Area economic indicators pointed to a fourth-quarter economic contraction.
3️⃣ The bloc's consumer prices remained in deflationary territory in December, while retail trade in November fell more than expected.
CAD - BULLISH
1️⃣ Coronavirus vaccination rollout is raising prospects of a swift economic recovery in the new year, although the pandemic is still far from controlled.
2️⃣ The Canadian economy advanced 0.4% in October, the 6th straight month of growth and the Manufacturing PMI for December was the strongest on record.
3️⃣ Rallied in oil prices boosted the CAD.
=====
Technical
=====
We are looking to sell the EURCAD below the resistance of 1.56200 + around SMA 50 on the H1 chart.
Order cancelled
DELETE PENDING ORDERPrice has reached TP first.
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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.