jessi061

EURO Vs Loonie (EUR/CAD) Trade Idea and Plan: Bullish bias

FOREXCOM:EURCAD   Euro / Canadian Dollar
EUR / CAD has developed higher lows connected by a longer-term upward trend line and also displays lower stochastic lows. This bullish divergence indicates a rebound may occur.

With little eye-catching improvements for leading indicators for the eurozone, in this session, I'm hoping to catch a quick bounce for the shared currency. On the flip side, there might be enough expectations for another dip in Canadian retail sales figures to keep the Loonie on a weak footing.

On top it all off, the resurfacing uncertainty surrounding trade talks between the U.S. and China could hold a veil on gains for commodity currencies and the dollar, reversing the euro may have chances in that case.