EURO - Weak Bearish 1️⃣ Both Sentix and ZEW investor confidence are seen declining due to the rapid spread of the COVID-19 variant Delta in the region.
CAD - Strong Bullish 1️⃣ A risk-on market environment can support the strength of CAD. 2️⃣ Canada’s inflation rate rose to 3.7% in July, from 3.1% in the previous month. 3️⃣ The unemployment rate in Canada also dropped to 7.5% in July, reflecting the reopening of the country’s economy.
===== Technical =====
We are selling the EURCAD after it failed to break the resistance.
===== Risk to this trade =====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.