EURCAD: SHORT UPDATE! Fundamental Trade 3:1 Reward to Risk
This is a Re=Post of my Fundamental Analysis and Technical Analysis
A good currency pair is EUR/CAD. One shows signs of weakness ( EURO -0.19% ) and the other shows signs of strength (CAD).
Fundamental:
(1) Housing Starts up
(2) Employment Change Up <-- The Canadian central bank meeting ists employment goals!!
(3) Trade Balance
(4) After reading the Business Outlook Survey for Canada, there is a clear line in the sand: "business prospects have improved following two years of overall modest activity. " Because the business activity in Canada has improved due to the many companies of Canada's forward-looking approach to, this has driven sales growth at home.
(5) An expected recovery in energy-related activity. <--- This is KEY in addition to its jobs growth.
(6) Oil 0.91% shocks dying out
(7) Foreign demand for Canadian exports steadily supporting growth.
(8) The favorable exchange rate and
(9) The US demand as the most important supporting factors
USD Clues and Ques:
What is interesting is in Chart 1-A, "Chart 1-A: Nearly all firms expect the US economy to grow over the next 12 months" ( www.bankofcanada.ca/.../bos-winter-2016-17/ )
RISK:
(1) The US demand as the most important supporting factors. One word: "TRUMP". Trump's "protectionist" tweets will keep me on edge.
Technical:
(1) Evening Star at a 50% fib level
(3) Rejection at resistance
(2) Long-Term Intraday and Daily Down Trend
Alternative: If this level fails, I look to sell more at 1.4045.
Stops are 1.4128
target: 1.3600 and 1.3400
A good currency pair is EUR/CAD. One shows signs of weakness ( EURO -0.19% ) and the other shows signs of strength (CAD).
Fundamental:
(1) Housing Starts up
(2) Employment Change Up <-- The Canadian central bank meeting ists employment goals!!
(3) Trade Balance
(4) After reading the Business Outlook Survey for Canada, there is a clear line in the sand: "business prospects have improved following two years of overall modest activity. " Because the business activity in Canada has improved due to the many companies of Canada's forward-looking approach to, this has driven sales growth at home.
(5) An expected recovery in energy-related activity. <--- This is KEY in addition to its jobs growth.
(6) Oil 0.91% shocks dying out
(7) Foreign demand for Canadian exports steadily supporting growth.
(8) The favorable exchange rate and
(9) The US demand as the most important supporting factors
USD Clues and Ques:
What is interesting is in Chart 1-A, "Chart 1-A: Nearly all firms expect the US economy to grow over the next 12 months" ( www.bankofcanada.ca/.../bos-winter-2016-17/ )
RISK:
(1) The US demand as the most important supporting factors. One word: "TRUMP". Trump's "protectionist" tweets will keep me on edge.
Technical:
(1) Evening Star at a 50% fib level
(3) Rejection at resistance
(2) Long-Term Intraday and Daily Down Trend
Alternative: If this level fails, I look to sell more at 1.4045.
Stops are 1.4128
target: 1.3600 and 1.3400
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Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.