EURCAD SELLHi fellow traders, EURCAD will be ready to sell from the blue box area as the correction is completing. Goodluck!
Eurcadanalysis
eurcadEURCAD - Long
Why are we entering?
- Price is in a descending ABCDE wedge and we are approaching the weekly structure level (1.43)
- Expecting CAD weakness & EUR strength = EURCAD Long
- Keep looking for buys everytime price goes to the bottom
What are we waiting for to happen?
- Bounce off the bottom
- CAD index to become bearish and EUR index to turn bullish
What is our confirmation?
- CAD index to continue reversing
Entry
No Safe Entry.
Risk Entry: Bounce off the bottom
Once entered, where will our Stoploss be?
- Below the lows
Where do we take profits?
- First TP: 1.472
- Second TP: 1.5
EURCAD (1HR) OUTLOOKLooking at 1H TF of this pair, the momentum does not look weak, hence suggesting that price might go into consolidation for a couple of hours before turning back up. and there is a possible trap for buyers so i suggest we stay woke with our SL levels.
Here is what am thinking (for Educational Purposes only):-
BUY: Between 1.43563 and 1.43200
SL: 1.42901
Target 1: 1.44444
Target 2: 1.45535
Target 3: 1.46467
Risk Management: 2% max!!!‼️
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EURCAD - is this turning bullish? 05 Nov 2021Is the bearish trend coming to an end?
I have no idea, but I do know that:
- 1.4300 is a solid S/R area
- price has been consolidating in a tight structure since 13 Oct.
- the bears made at least 2 major attempts to break below but failed.
- we seem to have made a higher low and for now the price action seems restricted to the top half of the structure.
Ideally a break above this corrective structure followed by a pullback would be a signal to take a long trade.
If price gets there, I would also consider taking a long at the bottom (1.4300) with a tight stop loss.
Before that happens, I will be monitoring the price action on the H4 chart, to try and determine if the bulls or bears are likely to take control of this market.
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Always use sound money and risk management in all your trades.
EURCAD has formed a double top on weekly resistanceHello traders, EURCAD has formed a double top on a weekly resistance with a bearish engulfing pattern. It is highly likely that this instrument will move down from here to continue its downtrend.
EURCAD 4H Let`s see how price reacts.On the weekly and daily, this pair looks like it is building pressure for a strong move up. Wait and see
if price goes that way first before entering a long position.
EURCAD buy still we can do itA week ago I was publishing a buy analysis. Rynel hasn't moved yet, so it's time to join in. This is a downward correction for the market.
EURCADKeeping an eye on this one. Set your alerts and be patient for the price action to play out.
Good Luck!
EurCad- Do we have a bottom?EurCad is in a downtrend for 15 months now, with the price dropping 1700 pips, from 1.6 to 1.43.
At the beginning of October, the pair has made an important break under 1.46 support and dropped pretty fast to the up-mentioned low.
At this moment looks like EurCad is preparing to test the new 1.46 resistance for confirmation and traders can look to buy dips against 1.43.
I'm bullish EurCad in medium-term and I will remain so as long as the price is above 1.43
EURCAD buyThe market was in the downward direction. Now I see signals that the direction is changing to up. I have assigned a place and a price to open a long position. I set a target 1 because from there the market may return to the zone. Target 2 is a destination where I expect the market to reach.
A divergence signal appeared with EURCADH4 time frame.
Structure: Downtrend.
A divergence signal and a double bottom reversal pattern appeared at the strong support zone of 1.43000.
Wait for the price to break the Key level and confirm the retest to find buying opportunities.
The profit target is the price zone of 1.46500.
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Wish you all have a good trading day!
EURCADBullish Indicators:
Support Zone at 1.42936
Bearish Indicators:
Resistance zone at 1.44824 Fib level 23.60%
Plan A: One can take a long position on the breaking of resistance zone of 1.44824
Plan B: One can take short position on the breaking of support zone of 1.42936.
Fibonacci setupFibonacci setup spotted on EURCAD. Brief pullback on Fibonacci 0.50(golden zone) after downtrend. Hence forecast price could fall after key zone is respected
EUR/CAD Possible Buy opportunityWaiting for EurCad to break out of this range to start a nice rally to the next weekly area. We are currently at a very important weekly support, lots of daily rejections as well. Looking for a nice break and retest on the yellow box to go long
EURCAD: Breakout TrapBuyers have been led to slaughter in this breakout trap! We are so close to the weekly low a breakaway from here seems unlikely.
Price is likely to collapse from here and tackle all the stop losses from people who got caught in the breakout buys trap today.
Once stops have been hunted and liquidity has been created we can swoop in with buys as illustrated.
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Trade idea for EUR/CAD. Short and long.Expecting a rise in volatility with the upcoming rates announcements with BOC and ECB. Will consider long position should price break and re-test current resistance. Will consider short position should price break and re-test current support. Expecting moves to previous supports respectively. Will not enter a position if the price continues to stay within the current support/resistance zone until after the announcements.
R/R both directions ~2.5
Risk - 1%
Buy the rumor, sell the news.
Stay safe and stick to your plan.
Best of luck!!
EURCAD possible longAfter a long downtrend, it seems a reversal on H4 and Day with the support of weekly bullish candle. It breaks h4 pattern and retesting and hopefully bull will be in control soon.
Eurcad waiting for a bullish breakForming inverted hns . Expected to break and retest for a bullish move.
EURCAD Trade Idea - LongEURCAD is consistently fall in price since 20th sept to 20th oct almost for month and now it has stopped it fall and consolidating within the channel pattern. According to chart pattern analysis, we might see EURCAD price bounce back toward Fibonacci retracement level
(as shown in chart) . Long trade on EURCAD can initiate with stop loss and money risk management .
Thank You.
EURCAD Buy Ideawe're waiting this pair to close a momentum candle over our last touch of the descending channel so we can take a buy position
if anyone have a comment on my analysis please share it
Good luck
