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EURCAD

EURCAD LowerTrying EURCAD lower here. We seem to be forming a bearish flag on the chart. Narrative seems to still support a move to the downside, the recent rise has been due to the ECB being more resolute on hiking rates than the market expected but i think with inflation continuing to come off fairly strongly and EU economic data still coming in worse than expected we should see people continue to take out long EUR trades. CAD should still benefit from a hawkish BoC and a strong economy to back it up at the moment. rate differentials are continuing to move lower which should help. sentiment is moving lower still while positioning is a little long on the pair. Not trading/investment advise, feedback welcome!
Short
by Spinning_
1
EUR/CAD - Short; Heavy resistance confluence!This pair is running into major resistance here, in an area of heavy confluence. This is the end of a corrective rally, in which all Euro pairs participated, off of their recent, major lows. (Mostly due to a, yet again, market wide delusion that the EU will have to tighten ("at least!") 375 basis points... When in reality, as the latest data illustrates, the EU couldn't even climb out of its decade long deflationary spiral despite a massive, war/sanctions - and categorically, self - induced inflationary spike.) Also, the EUR/GBP showing every sign of a top here, consequently, this pair makes an even stronger case for this Short than it's cousin's, the GBP/CAD. This pair is on the verge of a cliff with no technical support under the current levels, i.e., for the next -550 pips. Which makes it the obvious Short Target. Note; This has been stated time and again that these CAD pair shorts, while the case is strong, remain inferior to their USD cousins. The EUR/GBP picture
Short
by Nemo_Confidat
14
EURCAD I Potential bearish flag breakout Welcome back! Let me know your thoughts in the comments! ** EURCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
11
AUD/USD, USD/SGD, EUR/CAD and USD/CAD on watch for me today.AUD/USD: • If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price simply impulses back up above our rayline, it does so in a convincing manner and a subsequent tight flag forms, then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. USD/SGD: • If price pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. EUR/CAD: • If price pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price simply impulses back down, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. USD/CAD: • If price impulses down below our rayline and it does so in a convincing manner, then I'll be looking to get short with a reduced risk entry on the break of a subsequent tight flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
Editors' picks
by StewySongs
10
EUR/CAD Retests Major SupportIntroduction: EUR/CAD has recently demonstrated a significant technical development, as it successfully retested a major support level at 1.43. This retest, coupled with the formation of a higher market structure, suggests the potential for an uptrend in EUR/CAD, offering us a potential opportunity for profitable trades. The retest of the 1.43 support level holds great significance as it validates the strength of this area, indicating that buyers have emerged and are willing to defend this level. This creates a solid foundation for a potential bullish move in the pair. In addition to the successful retest, EUR/CAD has formed a higher market structure with a new higher low, indicating that a potential continuation of higher highs and higher lows could continue. This pattern suggests a potential shift in market sentiment, with buyers exerting more control over sellers. It also implies the presence of bullish momentum in the pair. Based on this analysis, we can consider setting three specific target levels as potential profit objectives: TARGET 1 : 1.4476 TARGET 2: 1.4648 TARGET 3: 1.4743
Long
by UnknownUnicorn48526553
EURCAD - 4hrs ( Buy Trade Target range 240 PIP ) Pair Name : EUR/CAD 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— Bullish Break 1.44700 Area Reasons - Major Turn level - Visible range Hvn Area - Channel Break Out - Day / week High Area - inner Pattern Break Bearish Reversal 1.47500 Area Reasons - Major Turn level / weekly - Visible Range Lvn - Pattern Target - Fibo Golden Zone - Quarter's area
Long
by GoldenEngine
1
EURCAD I Watch for break of range and these levelsWelcome back! Let me know your thoughts in the comments! ** EURCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
6
EURCAD → Consolidation near resistanceEURCAD is trading in a formed bearish price channel. An accumulation is forming on the chart which might try to break the trend, but on D1 MarketMaker is forming a trap TA on a high timeframe: 1) Price does not reach the 1.4247 level and starts to reverse, there is a possibility that with increasing buyer activity, MarketMaker may reverse the market in the 1.44250-1.34700 area and direct it to 1.4242. 2) Above the 1.4400 area there is a large amount of liquidity that could be of interest to the market. TA on the low timeframe: 1) Price is in a downward channel. 2) Resistance retest is forming. 3) If the bears hold this area, we will see a fall in the near future 4) But if the resistance is broken, our target is 1.45160 Key support: 1.43180 Key resistance: channel resistance
by Gold-Tech
10
✨ NEW: EURCAD ✨ SWING TRADE ✨TP3 @ 1.4765 (closing ALL Buy Orders) TP2 @ 1.4625 (shaving 25%) TP1 @ 1.4466 (shaving 25%) BSO @ 1.4375⏳ BLO @ 1.4315⏳ TECHNICAL ANALYSIS: — The EURCAD is currently trading at 1.43431 — The moving averages are all pointing upwards, which is a bullish signal — The RSI is in the overbought zone, which could signal a potential sell-off — The MACD is crossing above the signal line, which is a bullish signal Overall, the technical analysis for EURCAD is bullish. However, the RSI being in the overbought zone that could signal a potential sell-off. Based on this calculated guess, I'm going my chances with a Buy Order(see above) HIGH IMPACT EVENTS: — The economic outlook for the Eurozone and Canada — The interest rate differential between the Eurozone and Canada — Crude oil prices — Geopolitical events FUNDAMENTAL ANALYSIS Interest Rates: The European Central Bank (ECB) has raised interest rates twice in 2022, while the Bank of Canada (BoC) has raised rates four times. This has put upward pressure on the Canadian dollar and downward pressure on the euro. Inflation: Inflation is slightly higher in Canada. This could lead to further BoC rate hikes, which would continue to put downward pressure on the euro.
Long
by ProfessorCEWard
1
EURCAD - Sliding LowerEURCAD - My "pair nobody wants" continued its downtrend this week - making entries difficult; at least for myself. (Regretting closing my short entry at 1.50715) Fundamentals this week supported further movement in the current direction, from my point of view. Risk off! (Well never, but its lower) If the week ahead stays within boundaries Ill be looking for something like this to play out - seems probable we can push up to 1.445 area. Would be interested to see if we get a decent reaction there.. Patiently waiting for Thursday afternoon/evening. If you took the time to read this, take a look back at that time for yourself - nice coupler with your other technical preferences, if they so fit there. Happy Trading - Stay Agile
Short
by Scott_The_Chartist