EURCAD looks like a good opportunity for positional shorts on pullbacks.
Inflation is falling rapidly in Europe region and the growth story is quite
bad when compared to other regions, so while major central banks would
cut rates around Q2 2024, i think ECB might cut rates earlier.
Also, CAD looks like a good currency to buy against EUR since we a nice
interest rate differential.
Technically i see a little break in momentum in the up leg on weekly chart
so i'll be looking it to trade lower and thin shots to the upside could be
tradeable and used to build and hold short positions since we have positive carry.
Inflation is falling rapidly in Europe region and the growth story is quite
bad when compared to other regions, so while major central banks would
cut rates around Q2 2024, i think ECB might cut rates earlier.
Also, CAD looks like a good currency to buy against EUR since we a nice
interest rate differential.
Technically i see a little break in momentum in the up leg on weekly chart
so i'll be looking it to trade lower and thin shots to the upside could be
tradeable and used to build and hold short positions since we have positive carry.