Each of these currency has been moving significantly, and you can see on the EURCAD chart that after a period of lower highs and lower lows bulls finally gave up and it looks like the price is capitulating.
The Canadian dollar is in strong demand following the majestic surge of Oil that is still going on, it just made a new high, the most violent surge in months.
The Euro is still a pyramid scheme going to zero, no reason for it to go up significantly just yet. The ECB has a meeting the 11.
The Yen has been getting crushed against the USD and is underappreciated at the moment, I don't see it reverting in v shape without an extreme fall in valuation.
A good potential short on EURCAD, perhaps long CADJPY too (part of the same trade / same risk exposure).
I expect the price of EURCAD to continue down to 1.485, or as fake experts would say, something super specific, "the price target will be 1.48463".
The Canadian dollar is in strong demand following the majestic surge of Oil that is still going on, it just made a new high, the most violent surge in months.
The Euro is still a pyramid scheme going to zero, no reason for it to go up significantly just yet. The ECB has a meeting the 11.
The Yen has been getting crushed against the USD and is underappreciated at the moment, I don't see it reverting in v shape without an extreme fall in valuation.
A good potential short on EURCAD, perhaps long CADJPY too (part of the same trade / same risk exposure).
I expect the price of EURCAD to continue down to 1.485, or as fake experts would say, something super specific, "the price target will be 1.48463".
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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.