The EURCAD pairing represents the Euro and the Canadian Dollar. Canada is typically seen as a commodity currency, as a large portion of their export currency comes from crude oil. This makes it susceptible to fluctuations in the crude oil price. The Euro has a historical place as a Funding currency during global uncertainty. The true ranges of this oftimes interesting pair are typically higher than the ‘Majors’ and should interest intra-day and swing traders both.
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Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.