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EURCAD trade ideas

Bearish reversal off 61.8% Fibonacci resistance?EUR/CAD is rising towards the resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.48821 Why we like it: There is a pullback resistance level that aligns with the 61.8% Fibonacci retracement. Stop loss: 1.49410 Why we like it: There is a pullback resistance level. Take profit: 1.47454 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Potential bullish bounce?EUR/CAD is falling towards the pivot and could bounce to the 1st resistance. Pivot: 1.48219 1st Support: 1.47448 1st Resistance: 1.49226 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 (8H) DOWNTRENDThe EURCAD remains bearish as price respects lower pivot highs and holds below critical moving averages, confirming the ongoing downtrend. Sell Entry Zone: 1.4974 SSO @ 1.4890 ⌛️, add-on TP1: 1.4865 TP2: 1.4773 TP3: 1.4705 TP4: 1.4601 Watch the demand zone (1.4576 - 1.4486) for a potential bounce or consolidation. Buyers might emerge around the 1.4852 - 1.4773 range as indicated by some bullish moving averages. Oscillators highlight that price is neither strongly overbought nor oversold, leaving room for further bearish continuation or temporary consolidation. Enter near 1.4974 with stop-loss above 1.5032. Target TP levels in sequence as price moves lower. Monitor the 1.4576 - 1.4486 demand zone for bullish price action signals. Place conservative buy orders only if the price confirms a strong reversal. RESISTANCE Major resistance is observed at 1.5060 (Sell Stop Loss), with a significant supply zone near 1.5032, which aligns with previous pivot highs. Another intermediate resistance is noted at 1.4974, marking the latest sell order entry point. SUPPORT Minor Support (1D): 1.4785, coinciding with the first take-profit level. Further support at 1.4773 (Mid Pivot TP2) and 1.4705 (Sell Order TP3), with an ultimate TP4 at 1.4601. A potential demand zone exists between 1.4576 and 1.4486, signaling a possible reversal area if the downtrend extends further. TREND Price has consistently failed to breach resistance levels, consolidating below the 1.4974 zone, which acts as a sell-entry trigger. The chart confirms strong selling pressure with each pivot high and "DT Signal" (Downtrend Signal) leading to new lower lows. OSCILLATORS The majority of oscillators indicate a neutral sentiment, but momentum indicators show bearish pressure building up: Momentum (10): At -0.00838 (Sell), confirming downward pressure. MACD Level (12, 26): Shows a weak bearish crossover at 0.00040 (Sell). Bull Bear Power: At -0.00189 (Sell), reinforcing selling sentiment. MOVING AVERAGES Exponential Moving Averages (10, 20, 50, 100): All indicate selling pressure with prices trading below these levels. Simple Moving Averages (10, 20, 100): Confirm the bearish outlook. Simple Moving Averages (30, 50, 200): Indicate possible support on larger timeframes. Exponential Moving Average (30): Signals short-term buy potential around 1.49066. Hull Moving Average (9): Indicates short-term buying sentiment near 1.48533, suggesting price consolidation before further movement.
Short
by ProfessorCEWard
Potential bearish drop?EUR/CAD has reacted off the resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.49222 Why we like it: There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement. Stop loss: 1.49724 Why we like it: There is a pullback resistance level that is slightly below the 78.6% Fibonacci retracement. Take profit: 1.48340 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
#EURCAD 1DAYEURCAD (1D Timeframe) Analysis Market Structure: Support Trendline Breakdown: The price has broken below a key ascending trendline support, indicating potential weakness and bearish pressure. Forecast: Wait for Retest, Then Sell: A retest of the broken trendline as new resistance could provide confirmation for a selling opportunity. Key Levels to Watch: Entry Zone: Look for price rejection at the retest of the trendline or near resistance areas before entering a sell position. Risk Management: Stop Loss: Placed above the retest zone or recent swing high to limit risk. Take Profit Zones: Target nearby support levels or Fibonacci extensions for potential downside moves. Market Sentiment: Bearish Bias: The breakdown suggests sellers are gaining control, but waiting for a retest offers a safer entry point to confirm the trend reversal.
Short
by PIPSFIGHTER