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EURCAD trade ideas

EURCAD Breakout and retestEURCAD recently broke and closed above a downward channel, forming an ABC move. This bullish breakout marks a notable shift in momentum after a prolonged downtrend. The price has now approached a key resistance area, where previous sell-offs occurred, indicating potential resistance at this level. Given this setup, a short-term pullback is expected as the market may retest the upper border of the broken channel before resuming its upward movement. With the major trend still bullish on the daily timeframe, this pullback could offer a continuation trade opportunity. The target is the resistance zone around 1.52000
Long
by RTED_Investing
1
EURCAD Will Move Higher! Long! Take a look at our analysis for EURCAD. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 1.493. The above observations make me that the market will inevitably achieve 1.497 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURCAD May Test 1.4900 During the Coming WeekEURCAD May Test 1.4900 During the Coming Week The EURCAD pair has been moving inside a large corrective pattern for about 2.5 months now. After breaking through the 1.4900 level in mid-July 2024, the price has been oscillating between two key areas: 1.4900 and 1.5170. Today, the price tested the 1.5170 zone again but failed to rise further and is now heading downwards. Expectations are that EURCAD may decline to test the levels of 1.5000, 1.4950, and potentially 1.4900 during the coming week. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Short
by KlejdiCuni
4
Bullish bounce?EUR/CAD is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance which is a pullback resistance. Pivot: 1.48941 1st Support: 1.48252 1st Resistance: 1.49923 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.
Long
by ICmarkets
EURCAD A Fall Expected! SELL! My dear followers, I analysed this chart on EURCAD and concluded the following: The market is trading on 1.5064 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.5040 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. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
Accumulation, Manipulation and DistributionPrior to overcoming the 4-hour rejection block, price formed a consolidation phase, indicative of accumulation. This was followed by a volatile bullish move that successfully mitigated the rejection block, entering a manipulation phase. Subsequent price action led to a displacement, clearing the swing. Currently, we observe a bearish sentiment, anticipating a corrective hike to fill the imbalance and respect the fair value gap at 1.51200. The fair value gap shall be our entry with the demand zone at 1.50200 as the target from this expected distribution phase delivery…
by tokelohomi
EURCAD SHORT EURCAD Set-Up Bearish Arguments: Monthly PCH is being respected Monthly Bearish FVG being respected Monthly swing high has been swept Weekly swing high is being respected Daily Bearish FVG is being respected Daily swing high is being respected 4H swing high is being respected Bullish Arguments: Weekly swing low is being disrespected Daily swing low being respected so far 4H Bullish FVG being respected 4H swing high being respected As observed, the bearish probability is around 70%, while bullish odds stand at 30%. For this reason, risk management is crucial. Trade Management: Stop-loss placed at the short-term high. First TP set at SellStop. Once this level is reached, move the SL to break-even (BE) and hold until the final target is reached. Risk-to-Reward (RR): 2.45 Risk: 2%
Short
by Jaytradermb
EURCAD Daily: last breath for the EUR???EURCAD Daily: The uptrend seems to be in place due the HH and HL since last June but we can see some consolidation from August. With the price currently trading above the EMA(21) can suggest a possible upward continuation with the possibility to a re-test of the 1.52278 High from August. If the price continues above the EMA(21) we may see an increase in the bullish momentum taking the price to a new high. The cross around the 50 level on stochastic tells me a possible bullish move to get the overbought level. On the Fundamental side, the EUR is not doing well due the high inflation in the EUR zone. Also all eyes are on the ECB signals with a possible pause in rate hikes. On the Lonnie side the strong oil prices helps the CAD to get strength so any increases on that can change the whole scenario here.
Long
by cyberFX2019
Applied Simple wyckoff Theory on eurcad Wyckoff Method: Distribution Phase: This is the phase where the market is in a sideways range (consolidating) before a potential downward move. The distribution typically occurs near market tops. the distribution phase could be identified around the price levels of 1.51400 to 1.51000. We can observe a potential distribution as the price makes repeated attempts to break the high but fails to do so consistently. Markup Phase: This phase refers to a clear bullish move after accumulation or a consolidation phase. the markup likely started from 1.50200 to 1.50800, where we see a significant bullish rally. This is indicated by strong green candles after a series of pullback. There's a noticeable spike in volume around 1.50400, which supports the idea of a breakout or a reversal. A volume increase at highs (around 1.51000) indicates potential exhaustion, signaling distribution in the Wyckoff method and liquidity targeting in ICT. If you're looking to trade this, it seems you're nearing a key decision point at 1.51000 (potential distribution/liquidity grab). You can wait for a clear break above for longs or failure for short. If breakout above 1.51500 with strong volume: Look for a buy. SL: Below 1.51000. TP: First at 1.52000, and extend based on momentum. If rejection at 1.51500 with high volume: Consider a sell on reversal. SL: Above 1.51800. TP: First at 1.50800, extend to 1.50400 if selling pressure increases.
by hafizmuhammadmursalin786