From the technical views: 1. From the monthly and weekly perspective, the price made an impulse to the upside followed by a short correction, and now we can expect further upside on EURCAD according to the higher timeframe. 2. From the daily perspective, the price still below the counter trendline , unless the market break and close above the counter trendline , we can’t take any long positions at the moment. From the fundamental views: 1. Big players are bullish bias on EUR and bearish bias on CAD in the short term. 2. In the new report, more long positions added on EUR, which is 2.8k of the long and around 11k of the short positions closed on the EUR, we still can expect the continuation of the strengthening on EUR. From the CAD perspective, around 2k of the long positions added on CAD and 2.1k of the short closed on CAD, but from the overall CAD’s net positions, still indicated the strong bearish situation. 3. Stong EUR and weak CAD, EURCAD will move to the upside. How to approach EURCAD? 1. Waiting for the price break and close above the counter trend line and resistance level on the daily perspective. 2. After the market does so, switch to the lower timeframe finding long opportunity, if your rules of the strategy are fulfilled. 3. Just long at the moment is not a good idea, because we still below the daily counter-trendline, the market can easily move to the downside aggressively even though weekly and monthly show bullish scenario. The result might not follow my analysis, this analysis is based on the TA & FA perspectives. Comment down below let me know your view on EURCAD or which pairs you would like to me analyze in the future.



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