CADEUR trade ideas
EURCAD 1H ShortEUR/CAD 1H chart shows a potential short setup, targeting a bearish continuation. Entry is near 1.48627-1.48876, aligned with the 50% Fibonacci retracement and resistance from the Ichimoku cloud. A stop loss is placed above the 61.8% level at 1.49124, while take profit targets the previous low at 1.48183, offering a favorable 1:2 RRR. Bearish momentum is supported by price trading below the Ichimoku cloud
Bearish drop?EUR/CAD is rising towards the resistance level which is an overlap resistance that lines up with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.4890
Why we like it:
There is an overlap resistance level that lines up with the 50% Fibonacci retracement.
Stop loss: 1.4980
Why we like it:
There is an overlap resistance level.
Take profit: 1.4726
Why we like it:
There is a pullback support level that aligns with the 50% Fibonacci retracement.
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EURCAD Resistance , All eyes on SellingHello Traders
In This Chart nzdcad HOURLY Forex Forecast By FOREX PLANET
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Is EURCAD ready to resume the DownTrend?In recent days, the EUR/CAD pair has exhibited notable fluctuations on the daily chart. After reaching the 1.5170 level, a significant resistance point in recent years, the price began to weaken and entered a consistent decline. This area served as a crucial psychological and technical barrier, leading to increased selling pressure. The price subsequently fell below the sideways support at 1.4900, indicating a short-term reversal. The decline continued aggressively, breaking through the 1.4610 support level, another key point on the daily chart, underscoring the strength of the sellers.
Following this sharp decline, the pair experienced a pullback, returning to the previously broken 1.4900 area. This region, which had acted as support, now functions as significant resistance. This zone aligns with the 61.8% Fibonacci retracement level, drawn from the high of 1.5170 to the low of 1.4483, further emphasizing its technical importance. Given these factors, the expectation is for the EUR/CAD to continue its downward trend in the coming days.
Potential Sell Trade
A favorable selling opportunity may arise if the price closes below 1.4870 on the daily chart. Such a move would confirm rejection in the 1.4900 area and pave the way for further declines.
Sell Details:
Possible Entry Point: Close below 1.4870.
Stop Loss: Above 1.4980, representing a risk of 110 pips.
Take Profit: Near the 23.6% Fibonacci retracement level at 1.465, with a potential gain of 220 pips.
Alternative Scenario: Bullish Resumption
If the price does not close below 1.4870 and instead breaks the recent candle's high, we may see EUR/CAD retest the 1.5170 region. Such a move would invalidate the short-term bearish outlook and could attract new buyers.
It's important to note that the market is closely watching the Bank of Canada (BoC) interest rate decision today, with expectations of a 0.5% cut, reducing the rate from 3.75% to 3.25%. This could weaken the CAD, favoring an increase in EUR/CAD. Conversely, if the cut is smaller than anticipated (e.g., 0.25%) or does not occur, it may accelerate the pair's downward movement, given that sellers are already in control.
In Summary
The EUR/CAD is at a critical juncture, facing strong technical resistance at 1.4900 and showing signs of rejection at the 61.8% Fibonacci level. The likelihood of a decline strengthens, especially if the price closes below 1.4870, with target levels at 1.4645 (the 23.6% Fibonacci). However, traders should also consider the alternative scenario of breaking the recent high and advancing to 1.5170. Close monitoring of price action and the BoC announcement is essential for making informed trading decisions, as this could significantly impact the pair's direction.
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EURCAD My Opinion! SELL!
My dear followers,
I analysed this chart on EURCAD My Opinion! SELL! and concluded the following:
The market is trading on 1.4924 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.4827
Safe Stop Loss - 1.4981
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
Bullish bounce off overlap support?EUR/CAD has reacted off the pivot and could rise to the 1st resistance which acts as an overlap resistance.
Pivot: 1.48895
1st Support: 1.48252
1st Resistance: 1.50070
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EURCAD - Buy LimitEURCAD has formed inverted head and shoulders pattern.
It has also broken above the resistance which shows that the trend may continue to move bullish. It will come to retest the resistance (which now may act as a support). We'll buy with the stop loss below trendline and previous low.
EUR/CAD Daily AnalysisPrice is back above 1.49 for the first time this month.
Over August to November, price bounced between 1.49 and 1.5160 several times as the market was rangebound.
Will the market now head towards 1.5160 again?
There is a BOC rate statement coming up this week. Rates are expected to be reduced.
A weaker CAD could help with the push higher.
EURCAD SELLEUR/CAD 4-hour timeframe with respect to Wyckoff market cycle stages and current price action. Here's the step-by-step evaluation:
Wyckoff Analysis
Distribution Phase:
The chart shows a prolonged sideways range at the top (above 1.50), suggesting a distribution phase. This is evident from the multiple rejections at the resistance zone around 1.51679.
The volume during this range shows spikes on bearish candles, indicating selling pressure by smart money.
Markdown Phase:
Following the breakdown from the range, the price formed a clear impulsive downtrend, completing a 5-wave Elliott pattern (labeled as 1 to 5 in the chart).
The markdown culminated near 1.44886, which aligns with strong support and Fibonacci extension levels (1.618 at 1.45131). Volume increased significantly.
EUR_CAD WILL KEEP GROWING|LONG|
✅EUR_CAD keeps growing
And the pair made a breakout
Of the key level of 1.4900
Which is now a support and
Then made a pullback, a retest
And a rebound so we are now
Bullish biased and we will be
Expecting a further bullish
Move upwards
LONG🚀
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EURCAD Buy ForecastEURCAD New forecast👨💻👨💻
Note:
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EURCAD is in a Bullish Pattern After Testing daily SupportHello Traders
In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET
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🟢This Chart includes_ (GOLD market update)
🟢What is The Next Opportunity on GOLD Market
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This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
EUR/CAD - Weekly Analysis"On Monthly:
200, 50 and 20 EMA are showing Bullish move as the overall move indicates.
Price moving back down to test 1.47140 another Psychological Support , but it didn't reach and pulled back up.
It seems it's moving up toward 1.52000 a psychological resistant.
-- On Weekly:
Two solid Bullish candle revered the bearish attempt and price is moving towards 1.5070. All three EMAs, 200, 50 and 20 (RGB) are on order supporting Bullish move.
--On Daily:
The inverted Head & Shoulders has broken neck and Bullish move is going full steam.
All three EMAs, 200, 50 and 20 (RGB) not sequentially, but they are supporting bullish move.
-- On Hourly:
it seems, it has created Rising Wedge, showing exhaustion of Bullish move.
Additionally, RSI is clearly showing a great Divergence for Bearish reversal despite the all three EMAs, 200, 50 and 20 (RGB) supporting Bullish move."
EUR/CAD - My projectionI think that this is what will happen to EUR/CAD. It could bounce up further finding resistance at the previous resistance but could also be forming a new support and resistance from the break low. Resistance could be current price. I think that this is the case for this weeks open.
Watch for the price to decide direction then make your play responsibly.