The euro-Canadian pair rose during Asian trading on Friday for the fifth day in a row, as the European and Canadian central banks cut interest rates this week by 25 basis points, and the two banks threw any upcoming reduction depending on the data and further declines in inflation near the targets at 2% levels.

Today, we are waiting for jobs data from the Canadian economy, which is expected to decline from almost 90 thousand jobs to 25 thousand in May, and forecasts also indicate an increase in unemployment rates from 6.1% to 6.2%.

Technically:

EUR / CAD pair is trading inside an ascending price channel on the daily frame, as the pair completed the harmonic Crab pattern this week at the levels of 1.4928 and began to retreat somewhat from it, as we expect the decline to continue towards the lower boundary levels of the price channel at the levels of 1.4830 and around.

As for the case of completing the ascent near the completion of the main harmonic bat pattern, which will be near the levels of the daily downtrend approximately at the levels of 1.4970 and try it, we also expect that there will be good selling opportunities on the pair with the targets of the lower boundary of the ascending price channel as the initial target and then the levels of 1.4730 as the second target.

This scenario fails if the 1.5050 levels break higher.