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Eurcadforcast

Will EURCAD Drop next week?In my previous EURCAD idea, I mentioned about buying near 1.43 with final TP at 1.47. We already got 400 pip profit from our Buy trade(check idea attached below). In this idea, I will present a potential sell set-up that can give us a decent profit if it works. First of all, the rally in EURCAD has been massive. I expected a bullish run towards 1.47 as I mentioned in my previous idea but I didn't expect it to be so quick. Dramatic sell off in Wall street has lead to a huge surge in this pair. As CAD is a risk asset correlated with Oil, CAD's value drops very quickly during such sell offs in the stock market. That being said, I feel the sell-off in the market is going to have a pullback next week which might give us an opportunity to sell EURCAD. Today's daily candle in EURCAD has almost been reduced to a pinbar, which means sellers took control and buyers gave up all the gains. So, if price doesn't break 1.4880 in the next week, we can expect a drop towards at least 1.45. I will update this idea. So make sure you follow me to know about the exact entry.
by YourLazyTrader
12
EURCAD, SCALPER and SWING entries!I will explain now the first entry (the scalper one) we have a lot of confluences in this analysis that the value needs a retest before the big increase: 1st, the value needs a accumulation in the daily KL, 2nd: The retest in the downtrend, 3rd: the chinesse candles says to us that the value will fall, 4th: We also need a retest in fibo, at least in 38%, 5th: EXY stays really strong in this moment, but it's starting to stabilitzate, so it's a good moment to sell. FOLLOW me on twitter for more analysis and GIVE A LIKE to support my effort. Comment any doubt below or with a DM.
Short
by BlazeGP
2
EURCAD SHORT EURCAD shorts are looking good to go. Lets get ready for a retracement up to the purple box area with a 4 hour body closure as a doji or spinning top to confirm our bias of taking shorts from here. EURCAD has respected the 78.6% Fib level indicating the bears are still in control, lets just sit back and wait to see if it can pullback to the area of interested and see if it rejects before we jump into this trade! Remember to take partial profits at the 0%, -20% and finally the -61.8% :0 455 PIP gain 7/1 RR. LIKE AND FOLLOW FOR MORE :))))
Short
by KFX_
EURCAD TO SELL AFTER PULL BACK!At the moment, EURCAD is moving towards point of support to potentially form a 'double bottom' . from this point on, i see price retracing at least 50% of the bearish move before trading lower to our targets. Having said that, price is showing the potential to move to our targets without a pullback. Only take the trade if price pullbacks to our entry as this allows for a risk to reward ratio. Close majority of the position at take profit one and move stop loss past entry point and let the rest ride out risk free. Do not trade the pullback, wait to enter the real move.
Short
by Malika_Analysis
1
EURCAD reversed from resistance, potential drop! EURCAD reversed off its resistance at 1.46172 where it could potentially drop further to 1.45315. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
2
EURCAD Market Outlook | Daily Forex Market BreakdownEURCAD Looking bullish right now, but we have failed to push above resistance multiple times. We need to see how price reacts at the current resistance. If we see a strong break above we could see a bigger move to the upside, that being said if we fail to break above resistance again and we see a hard rejection we could completely melt to the downside. EC is definitely at a make it or break it level right now. Watching very carefully.
by Layne_LV