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EURCAD_108 2024.11.05 14:04:04 Trading Signal SELLFrankPro Signal for EURCAD_108 Type: Screen Signal: SELL TP: 1.50705 SL: 1.51297 Entry Price: 1.51223 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Probably Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Up LT=Down ST=Down LT=Up Analysis Method(0) Based on the provided analyses, I will provide separate assessments for short-term and long-term expectations. **Short-term Expectations (next few days):** * The EUR/CAD pair is expected to move within a narrow range, with a slight bias towards a downward movement. * The reversal from the key resistance level of 1.5160 and the Dark Cloud Cover pattern suggest a potential fall to the next support level at 1.5100. * The controlled movements with low volatility and the oversold condition on the RSI14 may lead to a brief drop before turning. * However, the overall trend remains weak, and the pair is closer to the support level at $1.46 than the resistance at $1.47, suggesting a trading risk/reward intra-day. **Expected Price Movement:** Down (but within a narrow range) **Long-term Expectations (next few weeks/months):** * The breakout from the multi-month price pattern and the Fibonacci price projections suggest a potential strong move higher. * The bullish engulfing candle on the daily chart and the wave analysis indicate a promising outlook for continued upward movement. * The target for buying on dips is around 1.5200, and a break above 1.5172 could lead to targets at 1.5228 and potentially 1.5312. **Expected Price Movement:** Up (with a potential strong move higher) In summary, while the short-term expectations suggest a potential downward movement within a narrow range, the long-term expectations indicate a potential strong move higher. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my conclusions for the EUR/CAD currency pair: **Short-term analysis (next few days/week):** * The breakout above the multi-month price pattern and the bullish MACD indicator suggest a potential short-term uptrend. * However, the bearish close and the potential two-bar reversal pattern indicate a possible short-term correction. * The oversold RSI14 indicator also suggests a potential short-term bounce. * Therefore, I expect the price to **go up** in the short-term, but with a possible brief correction. **Long-term analysis (next few months/year):** * The forecasts suggest a decline in price over the next quarter and year, which contradicts the short-term bullish outlook. * The horizontal trend and the resistance levels at $1.47 and $1.48 also suggest a more negative long-term forecast. * However, the long-term Moving Averages are not providing a clear signal, and the general risk is considered low. * Therefore, I expect the price to **go down** in the long-term, but with a possible range-bound movement between $1.48 and $1.51. Overall, the analysis suggests a potential short-term uptrend, but a more negative long-term outlook. Result: ST=Up LT=Down Analysis Method(2) Based on the provided analyses, here is my assessment of the EUR/CAD currency pair's expected price movement in both the short-term and long-term: **Short-term Analysis (next few days to a week)** * The presence of a strong bullish engulfing candle on the daily chart, as noted in the TradingView Analysis, suggests a potential for upward movement. * However, the Wave Analysis indicates a reversal down from the key resistance level of 1.5160, which could lead to a fall to the next support level at 1.5100. * The Breakout and Pattern Analysis suggests a bullish sign with a potential break above 1.5172, but also warns of a possible two-bar reversal pattern indicating a temporary correction. Given these mixed signals, I expect the price to be volatile in the short-term, with a slight bias towards a downward correction. The price might fall to the support level around 1.5100 before potentially rebounding. **Long-term Analysis (weeks to months)** * The Breakout and Pattern Analysis suggests a bullish sign with a potential strong move higher if the price follows through above 1.5172. * The General Outlook mentions that the MACD momentum indicator supports a bullish outlook, which could indicate a longer-term upward trend. * However, the presence of potential resistance levels and the possibility of the pair being oversold on some indicators could lead to corrections along the way. In the long-term, I expect the price to trend upwards, potentially reaching the targets mentioned in the Breakout and Pattern Analysis (1.5228 and 1.5312). However, this move is likely to be accompanied by corrections and potential pullbacks to support levels. In summary: * Short-term: Expected to go down (slight bias towards a downward correction) * Long-term: Expected to go up (with potential corrections along the way) Result: ST=Down LT=Up
Short
by frankiepro
EURCAD Will Move Higher! Buy! Here is our detailed technical review for EURCAD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.497. Considering the today's price action, probabilities will be high to see a movement to 1.503. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURAD 100PIP TKAE PROFIT Support and Resistance Zones Check for recent support or resistance levels. If EUR/CAD is close to a significant resistance and your take-profit target lies just below it, this could indicate a high-probability area for price reversal. A large stop loss (320 pips) may indicate potential volatility. Ensure that this stop is placed below a strong support zone to avoid unnecessary loss on sudden market moves. 2. Market Sentiment and Fundamental Drivers EUR/CAD is heavily influenced by factors such as the European Central Bank (ECB) and Bank of Canada (BoC) monetary policies, as well as commodity prices, particularly oil. Recent EUR or CAD economic data (e.g., inflation reports, interest rate decisions) could give insight into the market’s bias and help determine if a 100-pip target is achievable.
Short
by LORDOFTHETRADERS
4
EURCAD is in a Bullish PatternHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
2
EURCA Bearish 100pipsFor an EUR/CAD short position with a 30-pip stop loss and a 100-pip take-profit target, this type of setup has a favorable risk-to-reward ratio of over 3:1, ideal if the technical and fundamental setup supports the downside. Technical Analysis Trend Direction: Look for a confirmed downtrend on the 4-hour and daily charts. Clear signs include lower highs and lower lows. This would suggest that the market is likely to move in the direction of your trade. Support and Resistance Zones: Ensure the entry point aligns with a resistance level or near a recent swing high, which could prevent the stop loss from getting triggered easily. Ideally, the take-profit target should be near a support level 100 pips away, where price could pause or reverse.
Short
by LORDOFTHETRADERS
EurCad could rise 200+ pipsSince late August 2022, EUR/CAD has been in a bullish trend, gaining approximately 1,000 pips. However, after reaching a local high in early August 2024, the pair began trading within a range, encountering clear resistance around the 1.5150–1.5200 zone. Last Thursday, the pair rebounded from range support, forming a strong bullish engulfing candle on the daily chart, which suggests a promising outlook for continued upward movement. I am looking to buy on dips in EUR/CAD with a target around 1.5200, while the trade setup will be negated if the price falls below last week’s low. A confirmed bullish signal would be a daily close above 1.5000.
Long
by Mihai_Iacob
5
#EURUSD 1DAYEURUSD Daily Analysis The EURUSD pair is currently trading within a well-defined falling channel on the daily chart, indicating a bearish sentiment. The pair is approaching the upper boundary of the channel, which acts as a strong resistance level. This setup suggests potential selling opportunities as the price is likely to reverse upon hitting the resistance line. Technical Outlook: -Pattern: Falling Channel -Forecast: Bearish (Sell Opportunity) -Resistance Level: Channel upper boundary Traders can look for sell setups near the channel's resistance zone, targeting lower support levels within the channel. It’s advisable to confirm with additional indicators such as RSI or MACD to validate bearish momentum before entering a sell trade.
Short
by PIPSFIGHTER
Short Position on EURCAD: Strong Potential for TP SuccessKey Fundamentals Supporting a Bearish Bias: - Eurozone Struggles: Recent economic reports indicate that the Eurozone is facing challenges, including sluggish growth and rising inflation. This could weaken the Euro as investors lose confidence. - Interest Rate Outlook: The European Central Bank is taking a cautious stance on interest rates, while the Bank of Canada is likely to raise rates. This contrast could strengthen the Canadian Dollar against the Euro. - Geopolitical Pressures: Ongoing issues in Europe, such as energy crises and trade disruptions, are creating uncertainty. This instability can further drag down the Euro's value relative to the CAD. I'm focusing on short positions for EURCAD by using probabilities derived from historical data. By analyzing past trends and applying straightforward mathematical rules, I can spot high-probability trading opportunities. This strategy helps me stay disciplined and make informed decisions, reducing emotional trading and increasing my chances of success. Let's dive into the multiple timeframe top-down analysis together: 12M: 1D: Hourly Entry:
Short
by Jasminex1x2
2