Potential Long Opp on EURCADSome confluences telling me this pair will rise.
- RSI divergence on H1
- Validated trend line on H4 broken
- RSI overbought on H1 and H4 which will cause price to retest blue highlighted area.
What do you think?
EURCAD trade ideas
SELL EURCADLooking to sell EURCAD here after this clear bearish flag pattern. Waiting for the market to turn around to sell.
EURCAD Wave Analysis 6 December 2024
- EURCAD broke resistance zone
- Likely to rise to resistance level 1.5000
EURCAD currency pair recently broke the resistance zone located between the resistance level 1.4865 (which has been reversing the pair from the middle of November) and the 50% Fibonacci correction of the downward impulse wave C.
The breakout of this resistance zone accelerated the active intermediate impulse wave (C).
Given the clear daily uptrend and the strongly bearish CAD sentiment seen today, EURCAD currency pair can be expected to rise toward the next round resistance level 1.5000.
EURCAD Is Bearish! Sell!
Take a look at our analysis for EURCAD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1.485.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1.478 level.
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.
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Could the price reverse from here?EUR/CAD is rising towards the resistance level which is an overlap resistance and could drop from this level to our take profit.
Entry: 1.48732
Why we like it:
There is an overlap resistance level.
Stop loss: 1.49841
Why we like it:
There is an overlap resistance level that lines up with the 127.2% Fibonacci extension.
Take profit: 1.47316
Why we like it:
There is a pullback support level.
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EUR-CAD Resistance Ahead! Sell!
Hello,Traders!
EUR-CAD keeps growing
But a horizontal resistance
Level ahead at 1.4890
From where we will be
Expecting a local pullback
And a move down
Sell!
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TRADE ON EUR/CAD, TREND ANALYSISHere EUR/CAD is in accumulation phase in 4H TF, trend line has been broken, box breakout is about to happen and green candle has been closed on EMA.
30pips tp have been hit Good trade, and price will make new high after pullback, watch out for it and ensure to time your entry correctly
Bearish on $EURCAD1. We have a run on stops
2. We have price beyond 50% on the daily chart
3. We are currently on the daily chart orderblock
4. We are selling off from the mitigation block
EURCADEURCAD
This is my point of view today
Help me if there is a mistake
Or tell me your point of view
EURCAD shortMy favorite 200dma stands on guard as I attempt to short this down to the next support.
This is not a trade recommendation, it is merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
TradeCityPro | EURCAD Analysis Reaching the Daily Box Target👋 Welcome to the TradeCityPro channel!
Let’s dive into the forex market and analyze this popular pair, outlining key triggers for trading this week.
🌍 Fundamental Overview
EURCAD reflects the economic interplay between the Eurozone and Canada, influenced by:
🇪🇺 Eurozone Fundamentals (EUR):
ECB Policies: The European Central Bank's monetary stance (hawkish or dovish) significantly impacts the Euro’s strength.
🇨🇦 Canadian Dollar Fundamentals (CAD):
Oil Prices: CAD is sensitive to oil fluctuations due to Canada’s major oil exports. Rising oil prices typically strengthen the CAD.
Geopolitical tensions, trade balances, and global risk sentiment often sway EURCAD. The Euro acts as a reserve currency, while the CAD is risk-sensitive.
🕒 4-Hour Time Frame
1.4888 is the critical resistance, marking the top of the daily box (1.4888–1.5171). After breaking this level, the pair hit its target at 1.4556, a significant support level. The rejection at this resistance highlights its importance.
The 1.4731 level, broken yesterday but reclaimed today, offers a potential trigger for entries.
📉 Short Position Trigger
clear short trigger exists below 1.4731. Breaking this support could lead to further downside, targeting 1.4556.
📈 Long Position Trigger
While momentum-driven long entries are possible if the RSI enters overbought, a more reliable entry comes from consolidating within the current range or forming higher highs and lows.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
EURCAD: Weak Market & Bearish Forecast
Balance of buyers and sellers on the EURCAD pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the sellers, therefore is it only natural that we go short on the pair.
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EURCAD: Bearish Momentum and Divergence on 1-HourEURCAD is currently exhibiting bearish momentum and has formed a divergence on the 1-hour chart. This technical setup suggests potential downward movement.
EURCAD Will Fall! Short!
Take a look at our analysis for EURCAD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.474.
The above observations make me that the market will inevitably achieve 1.466 level.
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!
EURCAD SELL- Strategy 1EURCAD is making LH & LL's
which is an indication of a downtrend.
The SL is above previous LH.
EUR/CADEur is weak because of the PMI news
1H bias is sell
15min took out the buyer that made the higher high.
Hard sell power coming in.
Got in at price point 1.47380
SELLING EURCAD NOW!! (SWING THIS)Hey Traders,
I'm selling EURCAD now, trading with a 1:1.5 risk to reward.
CONFLUENCE:
1. SOW FORMED= SIGN OF WEAKNESS
2. PRICE FORMED OUR BEST SETUP (V SHAPE)
3. CLOSE TO THE KEYZONE (NUMBER ALGO.)
GOT A NICE RISK!!!
LETS GO!!!!!!!!
EUR/CAD Analysis: Bullish Momentum Strengthened by InstitutionalEUR/CAD is showing significant potential for continued upside, with large speculators holding long positions, according to the latest COT data. This institutional positioning stands in contrast to the prevailing retail sentiment, which remains predominantly bearish, often signaling that retail traders are positioned against the trend.
Retail traders, who are typically contrarian in nature, tend to be on the wrong side of the market when they are overwhelmingly bearish. This dynamic provides an opportunity for institutional traders to push EUR/CAD higher, as they target retail stop-loss orders below key levels.
With institutional long positions supporting the bullish trend and retail traders positioned on the opposite side, EUR/CAD appears poised for further gains. Traders should watch for key support levels and potential liquidity zones to find fresh entry points as the bullish momentum continues to build.
