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EURCAD trade ideas

#EURCAD 1DAYEURCAD Daily Analysis The EURCAD pair is currently trading near the lower boundary of a well-defined channel on the daily chart, where it has reached channel support. This support level suggests potential buying pressure, as the price has historically rebounded from this area within the channel, creating a favorable setup for a long position. Technical Outlook: - Pattern: Channel Support -Forecast: Bullish (Buy Opportunity) - Entry Strategy: Buy near the channel support area Traders may look to enter a buy position around this support level, with targets set at the channel's upper boundary. To further confirm the setup, indicators like RSI showing oversold conditions or MACD indicating a bullish divergence could add confidence to the trade, supporting the bullish forecast for EURCAD.
Long
by PIPSFIGHTER
3
COUNTER-TREND TRADING...SAFE OR RISKY?....EURCAD LIVE EXAMPLEWhat is going on everybody! Hope you are having an amazing weekend so far! Just wanted to come on here and speak a little bit about one of my favorite trading subjects which is counter-trend trading! I personally do counter-trend trading as one of my trading strategies so I wanted to come on here and share a real life example of some things I look for and the mentality behind trading against the current trend of price Hope you guys enjoy! Please boost and follow my page for more breakdowns! Appreciate you all! Cheers!
Editors' picks
by JosePips
6
EURCAD_110 2024.11.07 16:51:04 Trading Signal SELLFrankPro Signal for EURCAD_110 Type: Screen Signal: SELL TP: 1.48963 SL: 1.49779 Entry Price: 1.49643 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Up LT=Up Analysis Method(0) Based on the provided analysis, I will provide separate assessments for short-term and long-term expectations for the EUR/CAD currency pair. **Short-term (next few days to a week):** Given the recent reversal from the key resistance level of 1.5160 and the formation of a Dark Cloud Cover pattern, the pair is likely to fall to the next support level at 1.5100. The overbought daily Stochastic also supports this bearish outlook. However, if the pair breaks above 1.5172, it could confirm a continuation higher. Considering the uncertainty and the dual potential scenarios, I would say that the price is expected to **go down** in the short-term, but with a possibility of a breakout above 1.5172, which could change the direction. **Long-term (weeks to months):** The decisive breakout above the slanting roof of a multi-month price pattern and the bullish MACD momentum indicator support a long-term bullish outlook. If the price follows through higher, it could make a significant advance, targeting 1.5228 and then 1.5312. However, a bearish close could form a two-bar reversal pattern, indicating a temporary deeper correction. Considering the overall analysis, I would say that the price is expected to **go up** in the long-term, but with a possibility of temporary corrections. **Staying the same:** Given the current uncertainty and the dual potential scenarios, it's unlikely that the price will stay the same in the short-term or long-term. The analysis suggests that the pair will either break out above 1.5172 or fall to the next support level at 1.5100, and then potentially continue its move in the same direction. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my conclusions: **Short-term (next few days/week):** * The breakout above the upper trendline of the pattern could be "false" and the pair might form a Double Top bearish reversal pattern. * The MACD momentum indicator has risen above the zero line, but a bearish close could form a two-bar reversal pattern, indicating a potential short-term correction. * Some analyses suggest that the pair holds negative signals from both short and long-term Moving Averages, indicating a more negative forecast in the short term. * Therefore, I expect the price to **go down** in the short term, potentially breaking below 1.5101 and targeting 1.5051. **Long-term (next few weeks/months):** * The EUR/CAD has decisively broken out of a multi-month price pattern, which is a bullish sign. * A break above 1.5172 could confirm a continuation higher, targeting 1.5228 and potentially reaching 1.5312. * The pair has rebounded from range support, forming a strong bullish engulfing candle on the daily chart, suggesting a promising outlook for continued upward movement. * Therefore, I expect the price to **go up** in the long term, potentially reaching the targets mentioned above. Please note that these are just predictions based on the analysis, and the actual market behavior may differ. Result: ST=Down LT=Up Analysis Method(2) Based on the analysis provided, here is my assessment of the EUR/CAD currency pair's potential price movement: **Short-term analysis (next few days to a week):** * The recent breakout above 1.5172 and the bullish engulfing candle on the daily chart suggest a potential uptrend. * The MACD momentum indicator rising above the zero line also supports a bullish outlook. * However, there is a risk of a "false" breakout, and if the price breaks below 1.5101, it could lead to a move down to 1.5051. * Given the recent breakout and bullish indicators, I expect the price to **go up** in the short term, with a target around 1.5200. **Long-term analysis (next few weeks to a month):** * The EUR/CAD pair has broken out of a multi-month consolidation pattern, which could lead to a sustained uptrend. * The Fibonacci price projections suggest potential targets at 1.5228 and 1.5312, which could be reached in the long term. * However, the alternative scenario of a Double Top bearish reversal pattern cannot be ruled out, and a break below 1.5101 could lead to a move down. * Considering the breakout and the bullish indicators, I expect the price to **go up** in the long term, with a potential target around 1.5312. **Staying the same:** * The current trading range of $1.48 and $1.51, with support at $1.46 and resistance at levels such as $1.47 and $1.48, suggests that the price could remain range-bound if it fails to break out of this range. * However, given the recent breakout and bullish indicators, I do not expect the price to **stay the same** in the short or long term. Overall, my analysis suggests that the EUR/CAD pair is likely to go up in both the short and long term, with a potential target around 1.5200 in the short term and 1.5312 in the long term. Result: ST=Up LT=Up
Short
by orbborisson
EURCAD_101 2024.11.07 13:04:03 Trading Signal BUYFrankPro Signal for EURCAD_101 Type: Screen Signal: BUY TP: 1.50013 SL: 1.49551 Entry Price: 1.49617 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Up LT=Up Analysis Method(0) Based on the provided analysis, I will provide separate assessments for short-term and long-term expectations for the EUR/CAD currency pair. **Short-term (next few days to a week):** Given the recent reversal from the key resistance level of 1.5160 and the formation of a Dark Cloud Cover pattern, the pair is likely to fall to the next support level at 1.5100. The overbought daily Stochastic also supports this bearish outlook. However, if the pair breaks above 1.5172, it could confirm a continuation higher. Considering the uncertainty and the dual potential scenarios, I would say that the price is expected to **go down** in the short-term, but with a possibility of a breakout above 1.5172, which could change the direction. **Long-term (weeks to months):** The decisive breakout above the slanting roof of a multi-month price pattern and the bullish MACD momentum indicator support a long-term bullish outlook. If the price follows through higher, it could make a significant advance, targeting 1.5228 and then 1.5312. However, a bearish close could form a two-bar reversal pattern, indicating a temporary deeper correction. Considering the overall analysis, I would say that the price is expected to **go up** in the long-term, but with a possibility of temporary corrections. **Staying the same:** Given the current uncertainty and the dual potential scenarios, it's unlikely that the price will stay the same in the short-term or long-term. The analysis suggests that the pair will either break out above 1.5172 or fall to the next support level at 1.5100, and then potentially continue its move in the same direction. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my conclusions: **Short-term (next few days/week):** * The breakout above the upper trendline of the pattern could be "false" and the pair might form a Double Top bearish reversal pattern. * The MACD momentum indicator has risen above the zero line, but a bearish close could form a two-bar reversal pattern, indicating a potential short-term correction. * Some analyses suggest that the pair holds negative signals from both short and long-term Moving Averages, indicating a more negative forecast in the short term. * Therefore, I expect the price to **go down** in the short term, potentially breaking below 1.5101 and targeting 1.5051. **Long-term (next few weeks/months):** * The EUR/CAD has decisively broken out of a multi-month price pattern, which is a bullish sign. * A break above 1.5172 could confirm a continuation higher, targeting 1.5228 and potentially reaching 1.5312. * The pair has rebounded from range support, forming a strong bullish engulfing candle on the daily chart, suggesting a promising outlook for continued upward movement. * Therefore, I expect the price to **go up** in the long term, potentially reaching the targets mentioned above. Please note that these are just predictions based on the analysis, and the actual market behavior may differ. Result: ST=Down LT=Up Analysis Method(2) Based on the analysis provided, here is my assessment of the EUR/CAD currency pair's potential price movement: **Short-term analysis (next few days to a week):** * The recent breakout above 1.5172 and the bullish engulfing candle on the daily chart suggest a potential uptrend. * The MACD momentum indicator rising above the zero line also supports a bullish outlook. * However, there is a risk of a "false" breakout, and if the price breaks below 1.5101, it could lead to a move down to 1.5051. * Given the recent breakout and bullish indicators, I expect the price to **go up** in the short term, with a target around 1.5200. **Long-term analysis (next few weeks to a month):** * The EUR/CAD pair has broken out of a multi-month consolidation pattern, which could lead to a sustained uptrend. * The Fibonacci price projections suggest potential targets at 1.5228 and 1.5312, which could be reached in the long term. * However, the alternative scenario of a Double Top bearish reversal pattern cannot be ruled out, and a break below 1.5101 could lead to a move down. * Considering the breakout and the bullish indicators, I expect the price to **go up** in the long term, with a potential target around 1.5312. **Staying the same:** * The current trading range of $1.48 and $1.51, with support at $1.46 and resistance at levels such as $1.47 and $1.48, suggests that the price could remain range-bound if it fails to break out of this range. * However, given the recent breakout and bullish indicators, I do not expect the price to **stay the same** in the short or long term. Overall, my analysis suggests that the EUR/CAD pair is likely to go up in both the short and long term, with a potential target around 1.5200 in the short term and 1.5312 in the long term. Result: ST=Up LT=Up
Long
by orbborisson
EURCAD The Target Is DOWN! SELL! My dear subscribers, This is my opinion on the EURCAD next move: The instrument tests an important psychological level 1.5115 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.5050 My Stop Loss - 1.5151 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURCAD_101 2024.11.07 15:59:03 Trading Signal BUYFrankPro Signal for EURCAD_101 Type: Screen Signal: BUY TP: 1.50472 SL: 1.49793 Entry Price: 1.4989 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Up LT=Up Analysis Method(0) Based on the provided analysis, I will provide separate assessments for short-term and long-term expectations for the EUR/CAD currency pair. **Short-term (next few days to a week):** Given the recent reversal from the key resistance level of 1.5160 and the formation of a Dark Cloud Cover pattern, the pair is likely to fall to the next support level at 1.5100. The overbought daily Stochastic also supports this bearish outlook. However, if the pair breaks above 1.5172, it could confirm a continuation higher. Considering the uncertainty and the dual potential scenarios, I would say that the price is expected to **go down** in the short-term, but with a possibility of a breakout above 1.5172, which could change the direction. **Long-term (weeks to months):** The decisive breakout above the slanting roof of a multi-month price pattern and the bullish MACD momentum indicator support a long-term bullish outlook. If the price follows through higher, it could make a significant advance, targeting 1.5228 and then 1.5312. However, a bearish close could form a two-bar reversal pattern, indicating a temporary deeper correction. Considering the overall analysis, I would say that the price is expected to **go up** in the long-term, but with a possibility of temporary corrections. **Staying the same:** Given the current uncertainty and the dual potential scenarios, it's unlikely that the price will stay the same in the short-term or long-term. The analysis suggests that the pair will either break out above 1.5172 or fall to the next support level at 1.5100, and then potentially continue its move in the same direction. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my conclusions: **Short-term (next few days/week):** * The breakout above the upper trendline of the pattern could be "false" and the pair might form a Double Top bearish reversal pattern. * The MACD momentum indicator has risen above the zero line, but a bearish close could form a two-bar reversal pattern, indicating a potential short-term correction. * Some analyses suggest that the pair holds negative signals from both short and long-term Moving Averages, indicating a more negative forecast in the short term. * Therefore, I expect the price to **go down** in the short term, potentially breaking below 1.5101 and targeting 1.5051. **Long-term (next few weeks/months):** * The EUR/CAD has decisively broken out of a multi-month price pattern, which is a bullish sign. * A break above 1.5172 could confirm a continuation higher, targeting 1.5228 and potentially reaching 1.5312. * The pair has rebounded from range support, forming a strong bullish engulfing candle on the daily chart, suggesting a promising outlook for continued upward movement. * Therefore, I expect the price to **go up** in the long term, potentially reaching the targets mentioned above. Please note that these are just predictions based on the analysis, and the actual market behavior may differ. Result: ST=Down LT=Up Analysis Method(2) Based on the analysis provided, here is my assessment of the EUR/CAD currency pair's potential price movement: **Short-term analysis (next few days to a week):** * The recent breakout above 1.5172 and the bullish engulfing candle on the daily chart suggest a potential uptrend. * The MACD momentum indicator rising above the zero line also supports a bullish outlook. * However, there is a risk of a "false" breakout, and if the price breaks below 1.5101, it could lead to a move down to 1.5051. * Given the recent breakout and bullish indicators, I expect the price to **go up** in the short term, with a target around 1.5200. **Long-term analysis (next few weeks to a month):** * The EUR/CAD pair has broken out of a multi-month consolidation pattern, which could lead to a sustained uptrend. * The Fibonacci price projections suggest potential targets at 1.5228 and 1.5312, which could be reached in the long term. * However, the alternative scenario of a Double Top bearish reversal pattern cannot be ruled out, and a break below 1.5101 could lead to a move down. * Considering the breakout and the bullish indicators, I expect the price to **go up** in the long term, with a potential target around 1.5312. **Staying the same:** * The current trading range of $1.48 and $1.51, with support at $1.46 and resistance at levels such as $1.47 and $1.48, suggests that the price could remain range-bound if it fails to break out of this range. * However, given the recent breakout and bullish indicators, I do not expect the price to **stay the same** in the short or long term. Overall, my analysis suggests that the EUR/CAD pair is likely to go up in both the short and long term, with a potential target around 1.5200 in the short term and 1.5312 in the long term. Result: ST=Up LT=Up
Long
by orbborisson
EURCAD Wave Analysis 4 November 2024 - EURCAD reversed key resistance level 1.5160 - Likely to fall to support level 1.5100 EURCAD currency pair recently reversed down from the key resistance level 1.5160 (which has been steadily reversing the price from the start of August as can be seen below), strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level created the daily Japanese candlesticks reversal pattern Dark Cloud Cover – which marked the end of the previous ACB correction 2. Given the strength of the resistance level 1.5160 and the overbought daily Stochastic, EURCAD currency pair can be expected to fall to the next support level 1.5100, the former resistance from October.
Short
by FxProGlobal