Euro / Canadian Dollar
Short

EURCAD Potential Downsides

518
Hey Traders, our focus is on monitoring EURCAD for a potential selling opportunity within the 1.45000 zone. EURCAD is currently in a downtrend and appears to be consolidating while approaching a significant support and resistance zone at 1.45, which aligns with the major trend. Additionally, we should take into account the potential hawkishness of the Bank of Canada (BoC) when considering long positions on CAD.
Trade safe, Joe.

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