ECB speakers are coming onto the wires later today.
We already know from previous rhetoric that the ECB expects things to follow suite but is not making huge jumps or announcements. They have mentioned they expect easing and things are going well, but are not announcing exactly what they are going to do.
This speech is likely to confirm that and I do not expect any serious changes. The current downtrend on EUROCAD is mostly due to a more dovish approach via the ECB, albeit tentative. We know the BOC has committed to a faster easing cycle, so the matching of this reflects in price action.
Shorts preferred continually, now and on a rise further. Any major sentiment shift, should it occur, will skew this and result in a change of size / entry areas.
Awaiting speech and further price movements.
We already know from previous rhetoric that the ECB expects things to follow suite but is not making huge jumps or announcements. They have mentioned they expect easing and things are going well, but are not announcing exactly what they are going to do.
This speech is likely to confirm that and I do not expect any serious changes. The current downtrend on EUROCAD is mostly due to a more dovish approach via the ECB, albeit tentative. We know the BOC has committed to a faster easing cycle, so the matching of this reflects in price action.
Shorts preferred continually, now and on a rise further. Any major sentiment shift, should it occur, will skew this and result in a change of size / entry areas.
Awaiting speech and further price movements.
Note
Exit shorts for gains.
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Free Pro Multi Asset Trading Guide:
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
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.