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Canadian Dollar/Euro

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CADEUR trade ideas

EURCAD LongTrend and Context: Overall Trend: The chart shows a bullish trend on the 4-hour timeframe for EUR/CAD. The price has been making higher highs and higher lows, and it is trading above the 50-period SMA (1.50285) and the 200-period SMA (1.48860), which reinforces the bullish bias. Key Levels: Support: The closest support level is just above 1.50691, around the lower trendline that has formed within the wedge pattern. This level also coincides with the 50-period SMA, adding to its strength as a potential support area. Resistance: The target resistance level is around 1.52012, marking a potential take-profit zone. This level represents a previous swing high. Technical : Symmetrical Triangle Breakout: The chart shows a symmetrical triangle pattern forming over the last few sessions. The price is breaking above the upper trendline of the triangle, signaling a potential bullish breakout. This breakout indicates the continuation of the broader uptrend. Moving Averages: The price is comfortably above both the 50-period and 200-period SMAs, signaling that the market is in a strong uptrend and the momentum is positive.
Long
by Metow1sw
EURCAD - Trading The Wedge...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 EURCAD has been overall bullish , trading inside the rising wedge pattern in orange. At present, EURCAD is undergoing a correction phase and it is hovering around the lower bound of the wedge. Moreover, it is retesting a massive demand zone marked in blue. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue demand and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #EURCAD is hovering around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
EURCAD Technical Analysis and Trade Idea👀👉 Our focus is on the EURCAD currency pair, which has exhibited bullish momentum on the 4-hour timeframe. However, as the price has reached a resistance level, we anticipate a potential pullback to the Fibonacci 50% to 61.8% retracement levels. Our analysis encompasses key elements of technical analysis, including trend assessment, price action evaluation, and market structure examination. We'll also present a potential trade setup and, crucially, discuss strategies to approach it with an increased probability of success. It's imperative to note that this analysis is provided for educational purposes only and should not be construed as financial advice. The insights offered are speculative and do not guarantee future market behavior. We strongly advise verifying current price actions before executing any trades. This presentation offers an in-depth examination of the current trend, market structure, and price movements. However, it's crucial to understand that while this content aims to be educational, it does not ensure trading success. The foreign exchange market carries significant risks, and we strongly emphasize the importance of implementing robust risk management strategies in all trading activities. Please understand that thorough research and careful consideration should precede any trading decisions. Stay informed, remain vigilant, and approach the markets with a well-prepared strategy. 📊✅
Long
by fxtraderanthony
1
EURCAD Possible Short Position BBMA OA ReEntry Zone Zero Loss4H - Re-Entry 1H - 50 EMA Rejection + Bollinger Band Rejection 15m - Entry in MAHI Note: * Cancel trade or cut-loss when candle close Above MAHI (2 Green Color Lines) in 4H and wait for possible reentry again * 1:3 RRR * TAYOR A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
Short
by GreggiBond
Could EUR/CAD drop from here?The price has reacted off the pivot and could potentially fall to the 1st support. Pivot: 1.51181 1st Support: 1.50414 1st Resistance: 1.52059 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets