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Eurcadanalysis

EUR/CAD could move UP!Hey tradomaniacs, Euro getting stronger as expected! Next opportunity I see is that EUR/CAD could retrace back to its current Trendline if we see momentum above the resistance of the support-zone👉 The market, especially stocks and indicies are very choppy and boring to watch, which is why taking trades in this enviroment involves higher risk! LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me.
Long
by Trading2ez
5
EURCAD: Diagonal pattern in the weekly chartEURCAD: Diagonal pattern in the weekly chart, Triangle pattern in the daily chart ( Weekly Chart ) In the weekly chart, the largest waves have a triple structure, so monitoring the charts shows the end of the chart is in a form of 3-wave pattern that starts from the range of 1.2129. According to these explanations, the price is forming an Ending Diagonal pattern in this time frame. In continuation, we will study the daily chart and the details of the movement. ( Daily Chart ) In the daily chart, the price is in the final wave of the Diagonal pattern, of which the B wave is forming the triangle pattern, and the movement is terminating. The uptrend formation and the end of the Triangle pattern can be confirmed by crossing the price from the range of 1.5785. But the main point can be seen in the 240-minute chart, in this chart at the end of the E wave the Diagonal pattern is being formed. By crossing the price from the range of 1.5600 we can get the early confirmation to enter the completion of the Triangle pattern with targets of 1.6250 to 1.6300.
by NirmataFX
EURCAD | Perspective for the new weekWe experienced 230pips run in our direction on my last publication (see link below for reference purposes) on this pair with another trading opportunity building up again! It is very interesting to observe that the market has continuously made its decision around the CA$1.55700 level since July 2020 which tells me that we can be confident to find a quick trading opportunity on this one! Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Since on the 22nd of Dec 2020, the price has found Lower lows respecting the Bearish trendline that led to the recent Breakdown of CA$1.55700 followed by a sharp rejection of this level last week. ii. Considering the significance of our key level; The leg that broke down CA$1.55700 might experience correction back into this level for a decline continuation in the coming week. iii. In this regard, I shall be looking for a significant level around the Key level/Trendline to find a safe haven for a selling opportunity this week. iv. Lest I forget, I am looking forward to seeing buyers do quick activities around CA$1.5470 level after which selling opportunity will surface... Be patient :) Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:4 Potential Duration: 2 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURCAD to see some upside For more than a week, EURCAD has been moving in a descending channel and respecting the trendiness very well. EC had broken some very significant resistance around 1.55336 and 1.55432 on December 17th that it looks like it is revisiting as this market steadily moves to the downside. On the daily, EURCAD has been moving in an ascending channel and is about to reach one of the trend lines. As it approaches this part of the daily ascending channel, the bottom of the descending channel, and a zone that was previously resistance and now may be respected as new support, I believe there will be great buying pressure here and the market will be pushed up. Signs of the Canadian dollar weakening should also push this pair up as the Euro will get stronger against the Canadian dollar. I'll be looking to go long around 1.55432 and will target right before the previous high.
Long
by StealPipsSal