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EURCAD trade ideas

EURCAD chart shows a Bullish Flag PatternThis EURCAD chart shows a **Bullish Flag Pattern**, as indicated on the chart. **Key Observations:** - **Bullish Flag Pattern**: This is a continuation pattern that typically signals a potential upward breakout after consolidation. - **Resistance Zone**: Around **1.56200 - 1.56400**. - **Support Zone**: Around **1.55600 - 1.55700**. - **Moving Averages**: Price is trading above the moving averages, indicating bullish momentum. - **Volume Analysis**: Increased volume on the breakout suggests strong buying pressure. ### **Trading Plan:** - **Entry**: If price retraces to support and shows bullish confirmation, a buy trade can be placed near **1.55700 - 1.55800**. - **Stop Loss (SL)**: Below **1.55400** to minimize risk. - **Take Profit (TP)**: Around **1.57000 - 1.57500** in case of a breakout.
Long
by elitetrader9090
EUR/CAD Buy Setup (Technical Analysis & Risk Management)EUR/CAD Buy Setup (Technical Analysis & Risk Management) Trade Parameters: Current Price: 1.55400 Support Level: 1.55200 Resistance/Target: 1.56400 Stop Loss (SL): 1.54800 Exponential Moving Average (EMA 20): Check if price is above EMA 20 for confirmation. Entry Criteria & Confirmation: ✅ Entry Point: Buy around 1.55400 after confirming support at 1.55200. ✅ Trend Confirmation: Ensure price is above the 20 EMA to align with bullish momentum. ✅ Candlestick Confirmation: Look for bullish candlestick patterns (e.g., bullish engulfing, hammer) near support. ✅ Volume Confirmation: Higher buying volume near support strengthens the trade setup. Risk Management: 🔹 Stop Loss (SL): 1.54800 (40 pips below entry) to limit downside risk. 🔹 Take Profit (TP): 1.56400 (100 pips above entry). 🔹 Risk-to-Reward Ratio (RRR): 2.5:1 (Good risk-reward setup). 🔹 Lot Sizing: Adjust based on risk percentage (e.g., risking 1-2% of capital per trade). Trade Scenarios: 📈 Bullish Case (Target 1.56400) If price holds above 1.55200 and remains above EMA 20, expect a bullish move towards 1.56400. 📉 Bearish Case (Stop Loss Hit at 1.54800) If price breaks below 1.55200, the setup weakens. If 1.54800 SL is hit, exit the trade to prevent further loss. Additional Confirmation (Optional): 📊 RSI (Relative Strength Index): Look for RSI above 50 to confirm strength. 📊 MACD (Moving Average Convergence Divergence): Bullish crossover supports the buy trade. 📊 Fibonacci Retracement: Check if 1.55200 aligns with a key Fibonacci level (e.g., 38.2% or 50%).
Long
by smarttradingstar
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by Marketscom
EURCAD Wave Analysis – 6 March 2025 - EURCAD broke multi-year resistance 1.5100 - Likely to rise to resistance level 1.5770 EURCAD currency pair is rising sharply after the earlier breakout of the powerful multi-year resistance 1.5100, which has stopped all upward impulses from the start of 2021. The breakout of the resistance 1.5100 accelerated the short-term impulse wave 3 of the longer-term upward impulse sequence (3) from the end of 2024. Given the clear multiyear uptrend, EURCAD currency pair can be expected to rise to the next resistance level 1.5770, the former major price barrier from 2020 and the target for the completion of the active weekly impulse wave 3.
Long
by FxProGlobal
EURCAD: Wave 4 Nearing Completion, Wave 5 on the HorizonIt looks like we have completed or are close to completing wave 4 for EURCAD. Since wave 2 retraced to the 61.8% Fibonacci level, the fourth wave should be shallower, with a likely completion around the 38.2% Fibonacci retracement level. Additionally, the formation of wave 4 aligns with a price channel connecting the first three waves, reinforcing the overall structure. Once wave 4 is confirmed, I expect further market growth in wave 5, continuing the broader trend.
Long
by The_Traders_Memoirs
EURCAD Approaching Major Resistance — Potential Sell OpportunityOANDA:EURCAD is approaching a significant resistance zone, a level where sellers have consistently stepped in, leading to notable bearish reversals in the past. This area is marked by strong selling interest and historical price reactions, increasing the likelihood of bearish move if sellers regain control. The current price action suggests that if the pair confirms resistance through signals like bearish engulfing candles, long upper wicks, or increased selling volume, we could see a downward move toward 1.49830 — a logical target based on previous price behavior and market structure. However, if the price breaks above this zone and sustains, the bearish outlook may be invalidated, opening the door for further upside. Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management. Best of luck!
Short
by TrendDiva
2
EURCAD - Follow The Trend!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURCAD has been in a correction phase and it is currently approaching the lower bound of the blue channel. Moreover, the green zone is a strong support zone. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As #EURCAD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by TheSignalyst
19
Buy EUR/CAD High Impact NewsThe EUR/CAD pair on the M15 timeframe presents a Potential Buying Opportunity due to a recent Formation of a Breakout Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position around Trendline Of The Pattern. Target Levels: 1st Resistance – 1.5086 2nd Resistance – 1.5124 🎁 Please hit the like button and 🎁 Leave a comment to support for My Post ! Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI_TA_TRADING Thank you.
Long
by KABHI_TA_TRADING
3
EURCAD is in a Bullish Pattern After Testing SupportHello 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