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Eurcadshort

EURCAD: Will the price COLLAPSE on this PULLBACK?Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : EUR/CAD ⚪ Technical Analysis : In the weekly perspective, since March 2020, the price has been moving creating a nice ascending channel, getting many rejections on the resistance zone at about 1.57953 and bouncing on the dynamic support on the main trendline. In the daily chart, since May 2020, the price has been following the main weekly trendline and only few days ago it broke that for the first time. In the h4 chart, since the end of December, after a clear rejection on the main resistance level, a strong impulse moved the price down starting a falling wedge pattern, breaking it on the 13th of January. (Many rejections on the dynamic S/R Level are an extra confirmation of the validity of that pattern). During the last session the price reached the same level and the next price action around this zone will be essential to understand the next market movement. 🔴 Conclusion : ✔️ The price broke an important weekly trendline and it's actually pullback on the dynamic S/R level of the falling wedge. I'm confident to see the price falling down trying to reach the next secondary trendline and my next target would be the level at 1.52805. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! Please note the views are not investment advice and should be used only for educational purposes Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
6
EURCAD - Bearish BiasEUR - BEARISH 1️⃣ Concerns over rising COVID-19 cases, fresh lockdowns and the slow pace of vaccination. 2️⃣ The European Central Bank's economic bulletin showed that Euro Area economic indicators pointed to a fourth-quarter economic contraction. 3️⃣ The bloc's consumer prices remained in deflationary territory in December, while retail trade in November fell more than expected. CAD - BULLISH 1️⃣ Coronavirus vaccination rollout is raising prospects of a swift economic recovery in the new year, although the pandemic is still far from controlled. 2️⃣ The Canadian economy advanced 0.4% in October, the 6th straight month of growth and the Manufacturing PMI for December was the strongest on record. 3️⃣ Rallied in oil prices boosted the CAD. ===== Technical ===== We are looking to sell the EURCAD below the resistance of 1.56200 + around SMA 50 on the H1 chart.
Short
by MonsunAsia
EURCAD Moving Towards The Support Level...We managed to see price level retesting the 23.6% fib level and now showing signs of BEARISH continuation. I will be expecting EURCAD to move towards the support level where 38.2% fib lies. Further confirmation will be determined after this movement. As of now, this is a good short term trade opportunity. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
2
EURCAD, daily tf, sell ascending trendline break Hello my friends, Another trade to take today is EURCAD pairs. I've been watching this pairs since the big bearish candle took out that ascending trend line during December 4th. We could see this pair go lower again because the last 2 days candle has failed to closed back above the trendline. This trend line pretty much become a resistance now and there is horizontal resistance as well at 1.5530 area. Notice EMA10- and EMA-20 now become a resistance as well and located around 1.5520-30 area. We could draw a conclusion that 1.5530-20 area is an area of confluence resistance and it will take a big power from buyers to take this resistance down. Notice also the last 2 daily candles are bearish pinbar. It means sellers are in control of this pair and don't want EURCAD to go higher for now. Sell EURCAD 1.5525 Stop loss 1.5580 Take profit 1.5360 (3R) RR ratio 1 : 3 Use only 1-2% risk Good luck Disclaimer : i hold EURCAD sell from 1.5525
Short
by HayatoDragonFX
1