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CADEUR trade ideas

EURCAD Will Fall! Short! Here is our detailed technical review for EURCAD. Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.503. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.498 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
2
EURCAD- Bearish trade setup on 4H Time FramePrice Channel: The price appears to be moving within a defined downward channel (bearish structure), with the price approaching the upper boundary of this channel. This is often considered a potential selling opportunity as the price might reverse from the upper boundary and continue following the downtrend. Entry Point: The entry is defined near the 1.5060 level. This is where price action touches the upper boundary of the channel and meets resistance, making it a potential short entry point for a downward continuation of the trend. Stop Loss: 1.50692 The Stop Loss is placed above the resistance level, likely to protect the trade from a breakout against the position. The stop loss is defined at 1.5093, which is above the recent highs and outside the price channel. This setup minimizes the risk if the market reverses unexpectedly to the upside. Take Profit: 1.48994 The Take Profit level is set significantly lower, likely near the bottom of the descending price channel, with a potential target around the 1.4899 zone. This provides a favorable risk-to-reward ratio, as indicated by the distance between the stop loss and take profit zones. Trend Continuation: The overall structure suggests that this is a trend-following trade, betting on the continuation of the bearish trend for EUR/CAD. The price action reflects a steady decline, and the current setup aims to capitalize on this downtrend. Fundamental Factors to Consider: The EUR/CAD pair is impacted by macroeconomic factors from both the Eurozone and Canada. Some fundamental aspects that could influence this trade are: Oil Prices: The Canadian Dollar (CAD) is heavily influenced by oil prices due to Canada’s significant oil exports. Rising oil prices tend to strengthen the CAD, which could support the bearish view for EUR/CAD. A drop in oil prices, however, might weaken the CAD and invalidate the bearish scenario. ECB and BoC Monetary Policies: Any divergence in monetary policies between the European Central Bank (ECB) and the Bank of Canada (BoC) will likely affect the pair. If the BoC is more hawkish (leaning towards tightening), it would strengthen the CAD and further support this bearish technical setup. Conversely, dovish signals from either side may impact the trade outlook. Economic Data: Economic releases such as GDP growth, inflation, and employment data from both the Eurozone and Canada will be important to watch. Stronger-than-expected economic data from Canada could strengthen the CAD and support the downward momentum. Conversely, positive Eurozone data could provide support for the Euro. Global Risk Sentiment: CAD is a commodity currency and often strengthens during periods of global risk appetite. In contrast, the Euro tends to be more stable during uncertain times. Keep an eye on geopolitical events or changes in global risk sentiment that might impact this trade. Conclusion: The chart suggests a short setup on EUR/CAD, with a clear bearish bias supported by the downward channel and technical resistance levels. The setup involves a favorable risk-to-reward ratio with a stop loss placed above resistance and a take-profit target near the channel’s lower boundary. Fundamental factors such as oil prices, economic releases, and central bank policies will play a crucial role in shaping the movement of EUR/CAD.
Short
by factoryforex01
Trading Signal for EURCAD: Buy OpportunityAttention traders! We have an exciting opportunity in the EURCAD currency pair. Based on our sophisticated analysis using the EASY Quantum Ai strategy, we recommend the following trade setup: Direction: Buy Enter Price: 1.50351 Take Profit: 1.50700667 Stop Loss: 1.49677667 Justification: Our EASY Quantum Ai strategy indicates a bullish trend in the EURCAD pair due to several factors: 1. Technical Indicators: The pair has shown strong support at the 1.5000 level, and recent price action suggests a breakout above this support level, pushing towards the 1.50351 entry price. 2. Momentum: Momentum indicators like the RSI (Relative Strength Index) are pointing upwards, indicating a potential for further upward movement. 3. Market Sentiment: Positive economic data from the Eurozone, coupled with relatively weaker data from Canada, supports the bullish outlook for the EUR against the CAD. 4. Historicals: Historical price analysis shows that this pair tends to move higher in similar conditions. Note: Always keep an eye on the market conditions, as sudden changes can occur. Make sure to manage your risks accordingly. Good luck, and happy trading! - Team EASY Quantum Ai
Long
by ForexRobotEasy
EURCAD Sell continuation signalThe EURCAD pair is trading on the 1D MA50 (blue trend-line) within the 10-month Channel Up. The previous time we had a peak rejection like this, the pair declined by at least -3.88%. The similarities even between the 1D RSI fractals are obvious. Our Target is 1.46550. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
2
EURCAD still bearish expectations EURCAD in last week we are have strong bearish trend, technicalls are be strong bearish and one of impacts is come from USD weakened. On 4h TF we can see bearish expanding triangle, bounce from top zone of triangle is start on 26.8 price is fall 200PIPS. Now for new week, next periods, based technically here still strong bearish expecting. Based on price action can see 1.49500 strong zone is breaked on 30.8 Friday, which will use for one more good sign for bearish still to see. TP1: 1.47100 (200) All best, here for comments, stay tuned!
Short
by DepaTrading
Overlap resistance ahead?EUR/CAD is rising towards the resistance level which is an overlap resistance and could reverse from this level to our take profit. Entry: 1.50390 Why we like it: There is an overlap resistance level. Stop loss: 1.50851 Why we like it: There is a pullback resistance level that aligns with the 127.2% Fibonacci extension. Take profit: 1.49595 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
EURCAD Will Fall! Short! Take a look at our analysis for EURCAD. Time Frame: 8h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 1.497. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1.489 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1