Bullish momentum to extend?EUR/CAD is falling towards the support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and could rise from this level to our take profit.
Entry: 1.4982
Why we like it:
There is an overlap support level that lines up with the 38.2% Fibonacci retraecment.
Stop loss: 1.4847
Why we like it:
There is an overlap support level that lines up wit the 38.2% Fibonacci retracement.
Take profit: 1.5166
Why we like it:
There is a pullback resistance level.
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EURCAD trade ideas
EURCAD BUYEURCAD is falling towards a Support level which is a pullback support and go long term for a buy
We expect a decline in the channel after testing the current level which suggests that the price will continue to rise.
Traders if you like this idea give a like,comment i will be glad
And Good Luck on the Markets...
EURCAD new bearish expectations
EURCAD my first thoughts, idea, is be to see bullish push, because i am noticed inverted H&S can be created, but now after some period, i am not see strong bullish push and some strong bullish structure, so here now expecting new bearish push to see for thise week
SUP zone: 1.48450
RES zone: 1.46350, 1.45950
EURCAD BUY | Idea Trading AnalysisEURCAD is moving in an UP trend channel.
The chart broke through the dynamic Resistance line..
We expect a decline in the channel after testing the current level which suggests that the price will continue to rise
Hello Traders, here is the full analysis.
I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity EURCAD
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
Why I'm Longing for EUR/CAD to Hit 1.5: A Currency Love Story!Economic Romance: The Eurozone is experiencing a rebound, while Canada faces challenges like fluctuating oil prices. This economic disparity can lead to a stronger Euro against the Canadian Dollar.
Interest Rate Drama: If the European Central Bank continues to raise interest rates while the Bank of Canada holds steady, the Euro could gain traction, pushing the pair towards 1.5.
Commodity Price Fluctuations: As a commodity-driven economy, Canada’s currency can be sensitive to changes in global commodity prices. If prices dip, the CAD may weaken, benefiting the EUR.
Political Stability: The Eurozone is showing signs of political stability, which can enhance investor confidence in the Euro, making it a more attractive option compared to the CAD.
Technical Analysis: Chart patterns may indicate that EUR/CAD is poised for an upward movement, with 1.5 acting as a psychological target that traders are eyeing.
EUR/CAD SHORT FROM RESISTANCE
Hello, Friends!
Previous week’s green candle means that for us the EUR/CAD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1.490.
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#EURCAD 4HEURCAD 4-Hour Analysis
The EURCAD pair has formed an ascending triangle pattern on the 4-hour chart, but the price has broken down below the triangle's trendline support. This breakdown signals potential bearish momentum, making it a viable sell opportunity.
Technical Outlook:
Pattern: Ascending Triangle and Breakdown Trendline Support
Forecast: Bearish (Sell Opportunity)
Entry Strategy: Enter a sell position following confirmation of bearish momentum, such as a retest of the broken support acting as resistance or continuation of lower highs.
Traders should look for additional confirmation through bearish candlestick patterns and supporting indicators like RSI or MACD. Proper risk management is crucial, with stop-loss orders placed above the retest level and profit targets set at the next key support zones.
EURCAD: Bullish Move After Breakout 🇪🇺🇨🇦
EURCAD broke and closed above a key daily/intraday horizontal resistance.
After a breakout, the price retested the broken structure
and formed a narrow horizontal range on that.
The violation of its upper boundary with a bullish imbalance
is a strong bullish signal.
Chances are high that the pair will go up and reach at least 1.4928 level soon.
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Potential bullish rise?EUR/CAD has reacted off the pivot which has been identified as a pullback support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 1.48202
1st Support: 1.47236
1st Resistance: 1.49775
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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.
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EURCAD Technical Analysis: Swing Sell SignalEURCAD Technical Analysis: Swing Sell Signal
Market Outlook: Bearish Trend Confirmation
The EURCAD pair is presenting a compelling bearish setup, with multiple technical indicators suggesting a potential downward movement. Traders should carefully analyze the key levels and market dynamics supporting this sell signal.
Trade Specifications
- Action: SELL
- Entry Point: 1.4882
- Stop Loss: 1.4976
- Take Profit: 1.3870
- Risk Parameters:
- Stop Loss Distance: 94 pips
- Potential Profit Target: 1,012 pips
- Potential Risk-Reward Ratio: Approximately 1:10.8
Technical Analysis
Market Structure
The current market structure indicates a bearish momentum building up in the EURCAD pair. The sell signal is supported by several key technical observations:
- Potential completion of a corrective bullish pattern
- Clear resistance level established at the current price point
- Confluence of technical indicators suggesting downward pressure
Entry Point Rationale
The entry point at 1.4882 represents a strategic selling opportunity, characterized by:
- Rejection of recent highs
- Potential bearish reversal pattern
- Confluence with key resistance levels
Stop Loss Placement
The stop loss at 1.4976 provides:
- Protection against minor price fluctuations
- Clear invalidation point for the trade setup
- Reasonable buffer above the entry point
Take Profit Target
The take profit level at 1.3870 is strategically positioned:
- Targets a significant support zone
- Aligns with potential long-term bearish trend
- Offers substantial profit potential
Trading Strategy Considerations
1. Entry Confirmation
- Wait for additional confirmation before executing the trade
- Look for bearish candlestick patterns
- Confirm with momentum indicators
2. Risk Management
- Never risk more than 1-2% of trading capital on a single trade
- Use proper position sizing
- Consider scaling out of the position at intermediate support levels
3. Market Context
- Monitor broader economic indicators
- Pay attention to ECB and Bank of Canada monetary policies
- Consider correlation with other currency pairs and market sentiment
Technical Indicators to Watch
- Relative Strength Index (RSI)
- Moving Average Convergence Divergence (MACD)
- Fibonacci retracement levels
- Key support and resistance zones
Potential Challenges
- Volatility in forex markets
- Unexpected economic announcements
- Potential for trend reversal
- Impact of global economic events
Psychological Aspects
- Maintain discipline in trade execution
- Stick to predefined trading plan
- Avoid emotional decision-making
- Be prepared for both winning and losing trades
The EURCAD pair presents a technically sound sell opportunity with a favorable risk-reward profile. Traders should approach the trade with caution, implementing robust risk management strategies.
Disclaimer
- This analysis is for educational purposes only
- Market conditions can change rapidly
- Always conduct your own due diligence
- Consult with a financial advisor before making trading decisions
- Past performance does not guarantee future results
Trade responsibly and manage your risk carefully.
EUR/CAD BUY OPPORTUNITY .
DESCRIPTION OF TRADE
AS we can clearly identify head and shoulder pattern and retest of the neckline of the pattern , which gives us a text book confluence of the pattern .
And so , inline with the chart pattern we now look for market structure to look for potential trade we could get .
Atm, i am looking only for buy opportunity and in line with the market structure.
My trade confluences are :
1 Market structure in in line with overall swing structure
2 Supply and demand
3 Liquidity
4 Premium / Discount area.
Note : With confluences there are other key factors that will help me decide to take trades e.g. time of the trade , live market footprint etc .