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Eurcadbuy

EURCAD DThe pair has reached a somehow interesting area. On the one hand it broke a long term trendline on the 3rd of July but now seems to have found support at the 1.468 area. I believe the pair can rally to retest the resistance at the 1.4915 area. Reasons for believing this are : 1) Support area at 1.468 has been respected 2) We saw the formation of a pinbar breaching the support area but closing the day just over it or on it. 3) RSI is in overbought area 4) MACD seems to confirm the reversal by gaining some strength Please comment if you have a different view. Trade safe!!
Long
by MicKi
EURCAD - BIG LONG TRADEEUR/CAD is preparing itself for a big upmove. Recovering with 2 candles only after hitting the daily support and now failing to enter into a reversal phase, it is finding its support for a bigger up move in this consolidation phase. Keep this pair in your watchlist and look for a buy on the next low test. This is a very good looking setup. Highly probable move coming up next if the support holds and prices keeps rejecting the lows. As the prices make its push up and breaks the 200 ema on the daily, we'll have the beginning of the bullish weekly trend. Trade safe.
Long
by MoolahMaker
EURCAD Forex cross pair analysis supply and demand forecastSee below EURCAD Forex cross pair top down analysis supply and demand forecast. The big picture trend on EURCAD Forex cross pair is longs, we are not allowed to sell EURCAD based on a supply and demand trading strategy because there is a weekly demand level in control making price print higher highs.This weekly demand imbalance is located around 1.4695, this level is being respected whereas lower timeframe supply levels are being eliminated. There is no reason to go short on EURCAD Forex cross pair based on a supply and demand technical analysis. We are expecting price to rally higher above weekly highs eliminating lower timeframe supply imbalances and creating new levels of demand. Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won't need to stay in front of the computer all day long trying to move price action with your mind. As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and reacts strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements.You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for price to pullback or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
Long
by AlfonsoMoreno