Bad EU data momentum trade (Apr 3)
Fundamentals & Sentiment
EUR:
There was a lower than consensus Inflation data and a bad Unemployment print. I use these as triggers for a short-term momentum trade.
CAD: Canadian economy is doing better than EU based on the main economic indicators. CAD is undervalued based on a few market internals (not EURCAD pairs though)
Technical & Other
Setup: S(RTF)
Setup timeframe: 1h
Trigger: 1h
Medium term: Down
Long-term: Range
Min target: April 2 low
Risk: 0.27%
Other: expected a rejection from the heavy MAs
EUR:
There was a lower than consensus Inflation data and a bad Unemployment print. I use these as triggers for a short-term momentum trade.
CAD: Canadian economy is doing better than EU based on the main economic indicators. CAD is undervalued based on a few market internals (not EURCAD pairs though)
Technical & Other
Setup: S(RTF)
Setup timeframe: 1h
Trigger: 1h
Medium term: Down
Long-term: Range
Min target: April 2 low
Risk: 0.27%
Other: expected a rejection from the heavy MAs
Trade stängt manuellt:
the price held above the MA + bad CAD data