🇨🇦 CAD - Strong Bearish
1️⃣ Risk-off sentiment and declining oil prices weighing on the CAD.
2️⃣ Canadian GDP shrank 0.3% on quarter in Q2 2021.
3️⃣ Canadian trade balance for July is expected to decline.
🇯🇵 JPY - Strong Bullish
1️⃣ The JPY benefits from a risk-off market environment.
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Technical
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We are selling the CADJPY after it failed to break the resistance of 87.400.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ Risk-off sentiment and declining oil prices weighing on the CAD.
2️⃣ Canadian GDP shrank 0.3% on quarter in Q2 2021.
3️⃣ Canadian trade balance for July is expected to decline.
🇯🇵 JPY - Strong Bullish
1️⃣ The JPY benefits from a risk-off market environment.
=====
Technical
=====
We are selling the CADJPY after it failed to break the resistance of 87.400.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
Trade closed: stop reached:
❌ TRADE HAS HIT SL
-50 PIPS
Risk-on tone during Asian session support the high-beta currencies.
-50 PIPS
Risk-on tone during Asian session support the high-beta currencies.