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EUR-CAD

A trading opportunity to buy in EURCADMidterm forecast: While the price is above the support 1.4750, beginning of uptrend is expected. We make sure when the resistance at 1.5285 breaks. If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI resistance #1 at 62 is not broken, the probability of price increase would be too low. A peak is formed in daily chart at 1.5180 on 05/09/2019, so more losses to support(s) 1.5010, 1.4915, 1.4820 and minimum to Major Support (1.4750) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 45. Trading suggestion: There is a possibility of temporary retracement to suggested support zone (1.4820 to 1.4750). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (1.4820) Ending of entry zone (1.4750) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 1.4915 TP2= @ 1.5010 TP3= @1.5115 TP4= @ 1.5195 TP5= @ 1.5285 TP6= @ 1.5360 TP7=@ 1.5450 TP8= @ 1.5640 TP9= @ 1.6150 TP10= Free
Long
by ForecastCity
2
A trading opportunity to buy in EURCADMidterm forecast: While the price is above the support 1.4750, beginning of uptrend is expected. We make sure when the resistance at 1.5285 breaks. If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI resistance #1 at 62 is not broken, the probability of price increase would be too low. A peak is formed in daily chart at 1.5180 on 05/09/2019, so more losses to support(s) 1.5010, 1.4915, 1.4820 and minimum to Major Support (1.4750) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 45. Trading suggestion: There is a possibility of temporary retracement to suggested support zone (1.4820 to 1.4750). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (1.4820) Ending of entry zone (1.4750) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 1.4915 TP2= @ 1.5010 TP3= @1.5115 TP4= @ 1.5195 TP5= @ 1.5285 TP6= @ 1.5360 TP7=@ 1.5450 TP8= @ 1.5640 TP9= @ 1.6150 TP10= Free
Long
by ForecastCity
2
EURCAD BUY EURCAD buy set up - Two entry set up this one, buy on dip. First entry position is the dotted support trend line which has built up since 3rd May with 3 good reversals. Entry 2 is the support trend line which has been holding since 2nd April with major reversals ranging between 120 pips and 160pip bounce offs. The gap is between both entries is around 25 pip. Entry 1 - 80 pip win Entry 2 - 115 pip win. Pip range will depend on when the market reaches trend line. If you normally place SL below 25 pips then entry must be done correctly.
Long
by Freedom_Traders
A trading opportunity to buy in EURCADMidterm forecast: While the price is above the support 1.4750, beginning of uptrend is expected. We make sure when the resistance at 1.5285 breaks. If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is formed in daily chart at 1.5153 on 04/16/2019, so more losses to support(s) 1.4915, 1.4820 and minimum to Major Support (1.4750) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 45. Trading suggestion: There is a possibility of temporary retracement to suggested support zone (1.4820 to 1.4750). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (1.4820) Ending of entry zone (1.4750) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 1.4915 TP2= @ 1.5010 TP3= @1.5115 TP4= @ 1.5195 TP5= @ 1.5285 TP6= @ 1.5360 TP7=@ 1.5450 TP8= @ 1.5640 TP9= @ 1.6150 TP10= Free
Long
by ForecastCity
6
A trading opportunity to buy in EURCADMidterm forecast: While the price is above the support 1.4750, beginning of uptrend is expected. We make sure when the resistance at 1.5285 breaks. If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is formed in daily chart at 1.5153 on 04/16/2019, so more losses to support(s) 1.4915, 1.4820 and minimum to Major Support (1.4750) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 45. Trading suggestion: There is a possibility of temporary retracement to suggested support zone (1.4820 to 1.4750). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (1.4820) Ending of entry zone (1.4750) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 1.4915 TP2= @ 1.5010 TP3= @1.5115 TP4= @ 1.5195 TP5= @ 1.5285 TP6= @ 1.5360 TP7=@ 1.5450 TP8= @ 1.5640 TP9= @ 1.6150 TP10= Free
Long
by ForecastCity
4
Where Will EURCAD Head Next? Weekly TF Perspective Explained!Have a look at the main charts, where the blue horizontal lines represent concrete support and resistance levels drawn from the monthly charts and they represent where the price might head next after the breakout occurs. At the moment the price has been supported by an ascending trendline respected more than 5 times and a descending channel. Shall a breakout occur we could see the price test the nearby support or resistance levels (blue lines). Now thats the technical picture, fundamentally a break to the downside seems on the card as the EUROZONE faces slowdown and CAD supported by the rising OIL prices is making a move to the downside more favorable. It remains to be seen what happens in the near future. shall the criteria meet i will post the trade details in a new post. This just represents my analysis and future outlook of this pair. cheers
by FX618Analysis