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Eurcadsignal

EURCAD: Price Retracing Against 61.8% Fibo levelEURCAD Timeframe: 1D Direction: Short Confluences for Trade: - Bearish candle formations - Price at 61.8% Fibo levels of previous High - Low - Stochastic Overbought momentum - Fundamentally, positivity is slowly returning to improve sentiment about global demand which is likely to spur oil prices and with OPEC looking to react to such low oil prices, CAD strength is likely. Suggested Trade: Entry @ Area of Interest 1.5500 - 1.5650 SL: 1.5734 TP: 1.5213 RR: Approx. 2.08 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst
Short EURCAD Short Term Based On H1 TF Double Top Chart PatternWe can see the EURCAD has now formed a double top. For this chart pattern to be valid, price should break the neckline to validate the double top, pushing price further down. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Short
by AEFX786
Long EURCAD Longterm Based on 1D ChartSince gapping up, price has tested and respected a major support/resistance area bounced up from it. Today we've seen price has touched this major support level and price did pierce through but quickly pulled backed and has respected this level. Zooming in on the 4H time frame, candlestick pattern confirms a reversal in the downtrend to an uptrend is probable and momentum is changing with stochs touching 10% oversold. Check lower TF's for best entry. I've placed Stop loss very tight on the chart but do your own analysis, I may make mine wider. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Long
by AEFX786
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