EUR\CADEC bouncing off strong horizontal support 1.47800 after a nice bullish continuation struture has formed.
EURCAD trade ideas
EURCADThere needs to be a pattern similar to the red scrabble i have drawn here to give me a signal for sell this pair.
EURCAD Wave Analysis 19 November 2024
- EURCAD reversed from resistance level 1.4885
- Likely to fall to support level 1.4750
EURCAD currency pair recently reversed down from the resistance level 1.4885 (which is the lower border of the wide sideways price range inside which the pair has been trading from July, acting as the resistance after it was broken earlier).
The downward reversal from the resistance level 1.4885 stopped the previous intermediate ABC correction (2) from the end of last week.
Given the strongly bearish euro sentiment seen today, EURCAD currency pair can be expected to fall to the next support level 1.4750.
EURCAD: Very Bearish Pattern 🇪🇺🇨🇦
EURCAD formed a cute head & shoulders pattern on a key daily horizontal resistance.
A bearish breakout of its horizontal neckline is a strong bearish signal
that signifies the strength of the sellers.
With a high probability, the pair will continue falling and reach
at least 1.47665 level.
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EURCAD I shared this idea yesterday. Just started playing out about 3hrs back. Took some partials at 1:1 and holding the rest to see where we head next.
EURCAD Turning bearishI've seen enough confirmation for me to enter a sell. Strong support was broken and price has retested it today. Formed a rising pennant on H1/M30 and broke it. Also giving us a double top on H1. If this pair doesn't drop then there's some crazy voodoo spell going on. Check it out if you can also see a setup for yourself. Let's wait and see what happens
EURCAD, New Lows after Weekly RejectionRejection From Resistance1
38% Fib retracement complete
Towards new lows
Sell @ CMP
TP towards 1:1
Sl above resistance 1
EURCADHello Traders,
Here is my analysis for this pair. Please feel free to leave any questions or comments below. I'm happy to engage with you!
The entry will only be considered once all your trading rules are satisfied. I recommend adding this pair to your watchlist and monitoring it closely. If the conditions of your strategy align, then it could present a potential opportunity.
Pro Tip:
One of the best ways to improve your trading is by learning from others. Whether it's predictions, market analysis, or trade set-ups based on clear market conditions, studying ideas will help enhance your skills and refine your strategies.
Good luck and happy trading!
EURCAD next possible moveWe are waiting for our asset to reach our action zone, and based on the reaction, we’ll decide on our next moves.ALWAYS WAIT FOR A CONFIRMATION TO SEE IF THE PRICE VALIDATES THE ZONE.
EURCAD bullish scenarioEURCAD has a chance to continue its recovery this week. Now, we need momentum and a bounce above Friday's high, as well as the EMA 200 moving average. After that, the pair should return above 1.49000 and try to continue towards 1.50000.
2 OportunitiesTesting oportunities ...
Possible bear on retest and bull on order block going on the way for a new top
EUR/CAD SETUPIn 1Day time frame price reacted well in demand area after create a fake out.in 4 hour there is a clear change of character that has already happen there indicating change in direction,we will be looking from 30 to 15 min for buy entry.
EUR/CAD SETUPIn 1Day time frame price reacted well in demand area after create a fake out.in 4 hour there is a clear change of character that has already happen there indicating change in direction,we will be looking from 30 to 15 min for buy entry.
EURCAD - Potential short !!Hello traders!
‼️ This is my perspective on EURCAD.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. My point of interest is imbalance filled and rejection from bearish OB + level 1.49000.
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EUR/CADOn Monthly, it made a Bearish Engulfing Candle at the 1.47140 Support and 200,50 and 20 EMA are below the price.
On Weekly, it made a Hammer Candle and it's above 200,50 and 20 EMA.
On Daily, it formed a Doji close to Hammer candle formationright after passing through 1.4800 Resistant.
on 1Hour chart, it semms price is consolidating and contracting .
It's not clear if it's going Bullish as Daily and Weekly shows, OR Bearish as Monthly chart shows. Just watch and see what will happen.
EUR-CAD Potential Short! Sell!
Hello,Traders!
EUR-CAD keeps growing
In a bullish correction but
The pair will soon hit a
Horizontal resistance
Of 1.4890 from where
A local bearish correction
Is to be expected
Sell!
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Check out other forecasts below too!
EUR_CAD RESISTANCE AHEAD|SHORT|
✅EUR_CAD will be retesting a resistance level around 1.4900 soon
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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EUR/CAD Daily AnalysisSince August this year, price had been trapped inside a daily range of 1.4900 to 1.5160
Price finally printed a daily close below 1.4900 last week and continued to push down until finding trendline support which originated in February.
With price closing at 1.4845 last week, there are 55 pips back to 1.4900 where there is a possibility of price retesting next week.
Look for smaller time frame buy setups if you agree.
EURCAD I am Long. Momentum simply turning & Chase highs.
EURCAD I went long about a couple hours ago as it turned. It's now on the 200EMA Daily which is a good sign.
Momentum was simply fading on the downside and buying increased.
This trade I will take for about 1 week and chasing the highs on this chart.
EURCAD GONE !The EUR/CAD currency pair has recently shown an upward trend driven by divergent monetary policies, with the European Central Bank maintaining a hawkish stance while the Bank of Canada adopts a more cautious approach, increasing euro demand. Declines in oil prices have weakened the Canadian dollar, given Canada's reliance on oil exports. Technical indicators reveal breaches of key resistance levels, signaling sustained bullish momentum. Traders should monitor economic data, oil price trends, and central bank communications closely to adjust their strategies accordingly.
EURCAD H1 ShortIn daily timeframe you can see a clear pullback that I have shown it bar an orange rectangle. In H1 a nice entry candle has been made for going Short.
Heading into pullback resistance?EUR/CAD is rising towards the pivot and could reverse to the 1st support.
Pivot: 1.48819
1st Support: 1.47444
1st Resistance: 1.49827
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