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EURCAD trade ideas

EURCAD → A change in sentiment to bearish. MA-200 breakdownFX:EURCAD breaks trend support and spills to the downside as funds increase long positions on the Canadian dollar, whose rise is directly linked to the fall in DXY. On D1, we see the currency pair returning to the range (1.5040 resistance) after a deep false breakdown. Accordingly, after the short-squeeze the market has potential - liquidity located at the bottom. Accordingly, in the nearest future the market may test 1.497, then 1.493. BUT! On H4 there is a strong zone of 1.498 ahead. There is a high probability of a false breakdown and correction before a further fall, because below this zone there is a huge pool of liquidity, which will not let the price pass the first time. Resistance levels: 1.506, 1.5085 Support levels: 1.498, 1.49 The 200&50 SMAs act as resistance, which indicates the current market sentiment. If the market is weak, a correction may not happen, bears may break the level quite quickly. In any case, it is worth watching the price reaction at 1.498 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURCAD ;) Regards R. Linda!
Short
by RLinda
5
Pullback resistance ahead?EUR/CAD is rising towards the resistance level which is a pullback resistance that aligns with the 23.6% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.49724 Why we like it: There is a pullback resistance level that lines up with the 23.6% Fibonacci retracement. Stop loss: 1.50304 Why we like it: There is an overlap resistance level that is slightly below the 50% Fibonacci retracement. Take profit: 1.48948 Why we like it: There is a pullback support level 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
Overlap resistance ahead?EUR/CAD is rising towards the pivot and could reverse to the pullback support level. Pivot: 1.50380 1st Support: 1.49125 1st Resistance: 1.51159 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.
Short
by ICmarkets
EUR/CAD Analysis: Potential Trend Reversal Ahead?As observed on the chart, a final gap movement followed by trend weakness suggests we might anticipate a trend reversal soon 🔄. The divergence is clearly visible both on the chart and within the oscillator 📊. After breaking the identified support level, we could consider entering a position. Additionally, the RSI oscillator shows a downtrend, approaching oversold territories, indicating potential for a bounce 📈. Remember, oscillators often lead the price, providing early signals of potential moves 🚀. For a more accurate analysis, pay close attention to the formation of the end-of-trend movement on the higher timeframes 🕒. 🔍 Categories: Trend Analysis, Support and Resistance, Technical Indicators #EURCAD #Forex #TechnicalAnalysis #Tradecitypro #TCP If you found this analysis helpful, don’t forget to like, comment, and share! 💬👥
Short
by tradecitypro
1
Bearish breakout?EUR/CAD has broken out of the support level which is an overlap support and could drop from this level to our take profit. Entry: 1.50343 Why we like it: There is an overlap support level. Stop loss: 1.50851 Why we like it: There is a pullback resistance level which is slightly below the 50% Fibonacci retracement. Take profit: 1.49598 Why we like it: There is a pullback support level which is slightly below the 78.6% Fibonacci projection. 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