GBP - BULLISH
1️⃣ Driven by a weaker dollar and the prospect of a strong economic recovery in the UK. The "stage two" of lifting lockdown began this week, with non-essential shops, gyms, and art galleries reopening in England.
2️⃣ Most of this week data from U.K. expected to print better.
CAD - BEARISH
1️⃣ COVID continues to rage across Canada with vaccinations very slow.
2️⃣ PM Trudeau said third wave has taken turn for worse.
3️⃣ Bank of Canada meets this week - they could remain cautious given COVID situation and lockdowns.
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TECHNICAL
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- We're buying this pair on RBS level + SMA50 area on M15 chart. This is short term trading strategy from Monsun Asia.
- Risk reward ratio is 2:1.
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RISK TO THIS TRADE
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- This trade will hit stop loss if oil prices increase (CAD will be strong).
1️⃣ Driven by a weaker dollar and the prospect of a strong economic recovery in the UK. The "stage two" of lifting lockdown began this week, with non-essential shops, gyms, and art galleries reopening in England.
2️⃣ Most of this week data from U.K. expected to print better.
CAD - BEARISH
1️⃣ COVID continues to rage across Canada with vaccinations very slow.
2️⃣ PM Trudeau said third wave has taken turn for worse.
3️⃣ Bank of Canada meets this week - they could remain cautious given COVID situation and lockdowns.
=====
TECHNICAL
=====
- We're buying this pair on RBS level + SMA50 area on M15 chart. This is short term trading strategy from Monsun Asia.
- Risk reward ratio is 2:1.
=====
RISK TO THIS TRADE
=====
- This trade will hit stop loss if oil prices increase (CAD will be strong).
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