EUR/CAD is at a disadvantage from the rise in CAD
Greetings, fellow traders. Following the upward surge observed since late September, the EUR/CAD pair is now undergoing a corrective phase. As of the current moment, the price is situated below the psychological threshold of 1.5, signaling a diminishing sense of optimism in the overall outlook.
The Canadian dollar has gained strength, attributed to a decline in the country's Consumer Price Index (CPI). Anticipated hurdles on the downside include the 1.49 level, followed by 1.485 and 1.48.
Upon reviewing the H4 chart, it wouldn't be unexpected for the pair to experience a downward move toward the range of 1.48 to 1.485. I'm curious to hear your perspectives on this matter—do you share a similar view?
The Canadian dollar has gained strength, attributed to a decline in the country's Consumer Price Index (CPI). Anticipated hurdles on the downside include the 1.49 level, followed by 1.485 and 1.48.
Upon reviewing the H4 chart, it wouldn't be unexpected for the pair to experience a downward move toward the range of 1.48 to 1.485. I'm curious to hear your perspectives on this matter—do you share a similar view?