EurCad can drop from resistanceAfter breaking above 1.4350 resistance, EurCad accelerated its gains and reached the next resistance at 1.46 zone.
Now the pair can drop the retest the newly formed support
Sell rallies is my strategy for this pair
Eurcadforcast
EURCAD: Bullish Scenario Is Active!EURCAD is forming a downtrend channel.
Price is forming a final sub-wave 5 of wave (5).
In my previous idea, I have mentioned that, If the price breaks down channel C, the following targets for Wave 5 will be 1.4313 - 1.42520 - 1.41652- 1.41156.
Price reached all the targets of wave (5).
Click Here to check the previous idea:
Currently, the price is heaving correction, but safe traders can enter after the breakout of the C channel.
After making wave (5), if the price breaks the B channel, it can go for 1.4377 - 1.4466-1.45629-1.4645, and start a new 5-wave impulse structure.
Please note that without a breakout, trend changes may not be possible.
EURCAD | Perspective for the new weekMy perspective on this pair is going to be the opposite of the majority in the market as my research reveals that the big wigs are doubling down their position against the new week. Technically, with the strong support @ C$1.415 area; I foresee a short term gain for the Euro which might be a retracement of the overall bearish momentum or a possible move for an outright north in the coming weeks.
Tendency: Uptrend (Bullish)
Structure: Supply & Demand | Reversal pattern (Double Bottom)
Observation: i. It has been a Bearish run for the Euro since mid-September 2021 where the CAD recorded a 6.20% growth in the last 4 months.
ii. I am of the opinion that prices have found a bottom. Why? Well, since the price touched the C$1.451 area in November 2021, we have witnessed multiple strong rejections depicting buying power from this area.
iii. The highest point buyers have moved the price from the demand level is C$1.46 area (over 400pips move); this feat is recorded on the 20th of December 2021.
iv. Immediately price touched C$1.46, a downward spiral occurred which evolve into a Double bottom pattern within the same demand zone (during the previous week trading session) which based on past experience I have considered a strong area for the buyers.
v. Double Bottom: The appearance of this reversal pattern at this juncture in the market describes a possible change in trend and a momentum reversal from prior leading price action.
vi. In this regard, a breakout/retest of key level @ C$1.43 (neckline) will be a comfortable area for us to open a long position on this trade in the coming week(s).
NB: It is appropriate to state here that this is a counter-trend trade hence the need to be highly alert during the course of the trade as any bearish momentum could send the price crashing. .. Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 350 pips.
Risk/Reward : 1:4
Potential Duration: 10 to 15days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks 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.
Trading Idea Regarding EURCADAccording to my analysis this currency pair inshallah move bearish for the upcoming week
1-Strong nice downtrend
2-Nicely repeating its key levels towards downtrend
Note:
For bearish move it is suppose to hold trend line
EURCAD: Sentiments Are Short-Term Bearish, But... EURCAD has completed corrective wave 4, and if the price breaks the parallel channel C, it may make a new low, which should be impulsive sub-wave 5 of wave (5).
If price breaks down channel C, the following targets for Wave 5 will be 1.4313 - 1.42520 - 1.41652- 1.41156 .
After making wave (5), if the price breaks the B channel, it can go for 1.4645 and start a new 5-wave impulse structure.
Please note that the Breakout of wave (4) indicates a strong bull trend.
If the price breaks the channel without a downward, it indicates truncated 5th.
I will upload intraday chart for further information soon.
EURCAD SetupEURCAD is trading in a bearish parallel channel. It has taken support from base trendline and bulls took control from there. We are expecting bulls further push the price upside.
Trade your levels accordingly.
EurCad- Rise to resistance?Since November, EurCad is trading in a range, with a low of around 1.42 and a high above 1.4550.
Yesterday the pair visited the lower boundary of the range and reversed (Pin Bar on Daily chart)
At this moment there is a high probability of continuation to the upside and traders can look to buy dips under 1.43 with a target at 1.45
A daily close under 1.42 negates this scenario
EUR/CAD Long Confirmation. Long Term Swing Trade Positions into 1.46450 look valid. great Risk Reward on this trade.
EUR/CAD: Interesting Key Level Reached!!Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the EUR/CAD , translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
1 hour timeframe:
The market has been following a downtrend since a while and currently approached on a solid weekly key level that rejected the price many times during the past years!
The 4h timeframe is showing an interesting movement inside a an ascending channel, so a possibility of a bullish impulse is quite high.
Focusing on a lower timeframe the price seems is shifting value area and eventually it could start a new intraday uptrend if the new value area is confirmed.
When, where and why would I step into the market?
Considering still an overall downtrend, I will need more confirmations before planning a long position on this trade.
First of all in order to confirm a possibility of a new channel, I will be looking for a new price control and one more HH and HL to confirm the validity of the pattern, following by an intraday trend reverse.
Only when I will satisfy this condition, then I will plan a long position!
My SL would be just below the potential HL, manually moving the SL on every swing that the market will probably perform.
However, at the moment the price is quite far from the key level, so I will not take any action.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
EURCADHello Traders Welcome back to another profit day
If you like my idea please give me a like and comment, That's will be a great appreciation to do more predictions
Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
EURCAD view with Order block
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Please support this idea with a like, if you find it useful
have a good profit day guys
EurCad can rise above 1.5After a false break under 1.43 support, EurCad reversed strongly on Friday, putting in an immense bullish engulfing on our chart, which engulfs almost 2 months of trading.
1.4450 provides support now and dips towards that zone should be bought.
Bulls target can be 1.5 zone resistance and only EurCad under 1.43 would negate this scenario
EURCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURCAD SELLHi fellow traders, EURCAD will be ready to sell from the blue box area as the correction is completing. Goodluck!
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!!!‼️
PLEASE LIKE, COMMENT AND FOLLOW ME 🙏🙏🙏🙏🙏🙏
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- 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
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!
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.
Please, support this post with a like and comment!
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
EUR/CAD Looking For Longing Opportunity EURCADEURCAD reached a weekly and monthly major support level and retested the trendline after a strong impulse to the downside without any correction. We can expect growth from here before continuing the move to the downside or break of the bearish movement.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
