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Canadian Dollar/Euro

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CADEUR trade ideas

Sell EURCAD Channel BreakoutThe EUR/CAD pair on the M30 timeframe presents a potential shorting opportunity due to a recent downward breakout from a well-defined bearish channel pattern. This breakout suggests a shift in momentum towards the downside and a higher likelihood of further declines in the coming hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level of the channel, ideally around 1.4660 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.4616: This represents the first level of support within the channel. 1.4588: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.4682. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_FOREX_TRADING
7
EURCAD Short Trade Setup A #short trade opportunity recently presented itself on the #euroloonie (#EURCAD) #trading chart 📉. This is indicated by the #bearish inverted pin bar candlestick 🕯️ pattern just below the 1.47313 horizontal resistance level. This indicates a rejection of the same level, with potential price move in the downward ⬇️ direction (#sell). Sufficient downward momentum should see price dumping towards the 1.46000 psychological level and possibly testing the strength of the 1.45782 horizontal support level. As always, please apply appropriate risk management. Happy trading! #crosspair
Short
by charles-okoukoni
3
EURCAD: Geopolitical and Technical AnalysisThe euro is susceptible to fluctuations in energy prices, while the Canadian dollar stands to gain from them. Any developments concerning the conflicts in the Middle East or Ukraine, as well as increased tensions in these regions, could potentially lead to a bearish sentiment for EUR/CAD. However, I believe that the market's reaction to previous events, such as the Iran-Israel conflict, was perhaps exaggerated, and now there seems to be a reevaluation as markets return to their previous positions. We may see this trend persist until the next unexpected development from oil-producing countries I predict the green path, but I'm open to considering the red path as well. This viewpoint incorporates both intraday and long-term trading perspectives. Enter the trade after the zones have been breached.. Regarding the long-term view, just follow the path after breaking the lines
Long
by AliSignals
EUR/CAD: Leveraging Range-Bound Trading OpportunitiesThe EUR/CAD pair, since January 1st, 2023, has been traversing within a defined range, characterized by notable reversals between support and resistance levels. Recent market movements have unveiled a potential reversal pattern, signaling opportunities for astute traders. Initiating from its recent peak at 1.5050, EUR/CAD has embarked on a new trajectory, marked by a reversal pattern that warrants close attention. Notably, during Friday's trading session, the price encountered resistance, failing to surpass the 50% Fibonacci retracement level from its preceding lower low. This development underscores the significance of technical analysis in discerning potential market movements. Moreover, seasonal trends play a pivotal role in shaping price dynamics, and EUR/CAD is no exception. Historical data indicates a seasonal pattern where prices tend to decline until October. Armed with this insight, traders can strategically position themselves to capitalize on anticipated price movements. At our trading desk, we are closely monitoring these developments, poised to seize opportunities presented by the current market configuration. Leveraging our analysis, we are inclined to open a short position, targeting the 1.4200 level. However, it's crucial to acknowledge the possibility of further downward movement, potentially breaching the support level of the established range area.
Short
by FOREXN1
1
EURCAD Is Going Up! Buy! Take a look at our analysis for EURCAD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.460. Considering the today's price action, probabilities will be high to see a movement to 1.464. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Lingrid | EURCAD testing SWAP ZONEThe price perfectly fulfills my last idea. It hit the target. FX:EURCAD broke through the range zone, and it pulled back to it after testing the support. Price action made impulse moves down from resistance, where a swap zone was formed. The market trend is bearish; therefore, I expect the price to continue to move lower toward support from resistance, which is the previous day high. I think the market might test the equal lows below. On the daily timeframe, the market formed long-tailed bars, indicating bearish pressure. My goal is to support at 1.46010 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
1