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Eurcadsell

EURCAD 240MHello traders! With this trade, we want to grab 40 pips between lines B and C. If you look a the circle on the chart you can see price never reached line A, so the build up needed to push the T2 level all the way to line C never happened. If you were in the T2 trade, you would still be in it now cause the stop loss was not hit. These trades can be taken with a sell stop order as a set and forget setup. There is no need to wait for price to close, wicks excluded, below line B. It`s recommended to position your stop no further away than 1:1 RR away from entry, although this may vary with markets and volatility. Best, Jay
Short
by TrapReversalTrading
EURCAD Fundamental Analysis – October 11th 2019Here are the key factors to keep in mind today for Euro trades: Final German CPI: The Final German CPI for September was reported flat at 0.0% monthly and increased by 1.2% annualized. Economists predicted a flat reading of 0.0% and an increase of 1.2%. Forex traders can compare this to the German CPI for August which decreased by 0.2% monthly and which increased by 1.2% annualized. The Final EU Harmonized German CPI for September decreased by 0.1% monthly and increased by 0.9% annualized. Economists predicted a decrease of 0.1% and an increase of 0.9%. Forex traders can compare this to the EU Harmonized German CPI for August which decreased by 0.1% monthly and which increased by 0.9% annualized. Final Spanish CPI: The Final Spanish CPI for September was reported flat at 0.0% monthly and increased by 0.1% annualized. Economists predicted a flat reading of 0.0% and an increase of 0.1%. Forex traders can compare this to the Spanish CPI for August which decreased by 0.1% monthly and which increased by 0.1% annualized. The Final EU Harmonized Spanish CPI for September increased by 0.4% monthly and by 0.2% annualized. Economists predicted an increase of 0.4% and of 0.2%. Forex traders can compare this to the EU Harmonized Spanish CPI for August which increased by 0.4% monthly and by 0.2% annualized. Here is the key factor to keep in mind today for Canadian Dollar trades: Canadian Employment Report: The Canadian Employment Report for September is predicted to show the addition of 7.9K jobs and an Unemployment Rate of 5.7%. Forex traders can compare this to the Canadian Employment Report for August which showed the addition of 81.1K jobs and an Unemployment Rate of 5.7%. Hourly Earnings for Permanent Employees for September are predicted to increase by 3.8% annualized. Forex traders can compare this to Hourly Earnings for Permanent Employees for August which increased by 3.8% annualized. 21.7K Full-Time Positions are expected to have been created and 10.0K Part-Time Positions lost in September. Forex traders can compare this to the creation of 23.8K Full-Time Positions and 57.2K Part-Time Positions which were reported in August. The Labor Force Participation Rate for September is expected at 65.7%. Forex traders can compare this to the Labor Force Participation Rate for August which was reported at 65.8%. Should price action for the EURCAD remain inside the or breakdown below the 1.4585 to 1.4650 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.4610 Take Profit Zone: 1.4415 – 1.4470 Stop Loss Level: 1.4690 Should price action for the EURCAD breakout above 1.4650 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.4690 Take Profit Zone: 1.4860 – 1.4930 Stop Loss Level: 1.4650 Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Did you know that you can earn more pips per trade simply by switching to PaxForex? Sign-up now and boost your profits!
by PaxForex
1
ELLIOT WAVE: EURCAD BULLS LOOKING TO MAKE A NEW HIGHThe price movement for the EUR/CAD has been constrained by several channels and overlapping price action over the past few years. The above chart visualizes the WEEKLY price action of EURCAD from August 2012 low. As visible, its structure can be best labeled as a "W-X-Y" double three/combination Elliot Wave pattern. The advance from August 2012 and March 2014 can be labeled as an (a)-(b)-(c) zigzag pattern in wave W. While the sideways and time-consuming price action that follows the rally between March 2014 and September 2019 seems to be unfolded as an Elliot Wave running triangle pattern labeled (a)-(b)-(c)-(d)-(e) in wave X. . According to Elliot wave theory, Triangle is a continuation pattern which breaks in the direction of the preceding move. With that being said, we could see a rally in wave Y in the form of a zigzag to complete the double three structure. . Wave Y has the potential to equal the size of wave W. So, the blue box and upper trendline of the channel is the most likely price target. BEYOND ELLIOT WAVE We could also see the price testing the longterm ascending trendline that extends from August 2012 low and has not been tested since 2015 for the third time. Last weekly price action closed as bullish outside or engulfing bar, this further suggesting a potential surge in the exchange rate of EURCAD. Thanks for reading!
Long
by Veejahbee
4
EURCAD - SELLTrend conntinuation/VSA Trade - On the 14th of Aug there was a high volume of supply that came in on the 4hr timeframe which sent price dropping well over 200pips, we now have a 38.2% retracement of that move where price has just put in a VSA Trap Upmove which rejected the 50ema and engulfed the last 40hrs of trading. I'm expecting price to trade lower to it's next key level of 1.45000 where I'll be taking partial profits and moving stops to breakeven and if price should break that key level I'll expect it to drop further to 1.43990.
Short
by lonelytrader