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EURCAD trade ideas

Bullish bounce off major pullback support?EUR/CAD is falling towards the support level which is a pullback support that aligns with the 88% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.48952 Why we like it: There is a pullback support level that aligns with the 88% Fibonacci retracement. Stop loss: 1.48500 Why we like it: There is a support level at the 88% Fibonacci retracement. Take profit: 1.49680 Why we like it: There is an overlap resistance level. Enjoying your TradingView experience? Review us! 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.
Long
by VantageMarkets
EURCAD 2024.10.16 01:14:07 Trading Signal BUY FrankPro Signal for EURCAD Type: Screen Signal: BUY TP: 1.50465 SL: 1.49925 Entry Price: 1.5006 Flexity Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST=Probably Up LT=Probably Down Forecast Methods(Short-Term, Long-Term): ST=Up LT=Down ST=Up LT=Up ST=Down LT=Down FlexityIndicator Analysis Method(0) EUR/CAD Exchange Rate Predictions Short-term (next few days) The price is expected to go up. The forecast suggests a potential rise to $1.520159 in the next 7 days. Technical Indicators Bullish Signals Bearish Signals 26 indicators 26 0 The 14-day RSI reading is also leaning towards a bullish trend. Long-term The price is expected to go down. Despite the short-term bullish outlook, the analysis highlights intense bearish pressure. Market violating a solid rising trend line Wide horizontal zone of demand Price testing a zone of support at 1.4328 Potential re-test of the bottom of this zone at 1.4235 Potential further drop to the 2023 low at 1.4158 The broader economic context also suggests a weaker Euro and a stronger Canadian Dollar, which could contribute to a long-term bearish trend. Result: ST=Up LT=Down FlexityIndicator Analysis Method(1) EUR/CAD Exchange Rate Forecast Short-term (next 7 days) Forecast Technical Analysis Expected Price Movement Bullish sentiment, price expected to rise to around 1.520159 Strong bearish trend, potential bearish movement towards 1.4948 support level Price likely to oscillate, with a slight bias towards a slight increase Long-term (next few weeks/months) Monthly Forecast (October 2024) Average Rate High Low Expected Price Movement Slightly bullish sentiment 1.528 1.553 1.507 Price expected to go up, with a potential target of around 1.530 by the end of the month Important Note: These conclusions are based on the provided data and should not be considered as investment advice. The foreign exchange market is highly volatile, and prices can change rapidly due to various market and economic factors. Result: ST=Up LT=Up FlexityIndicator Analysis Method(2) EUR/CAD Exchange Rate Analysis Short-term Outlook (next few days to a week) Trend Signals Price Movement Bearish 82.14% of moving average signals Expected to go down Key Levels to Watch: Sellers' bearish objective: 1.5020 CAD Potential breaks below support level: 1.4976 CAD and 1.4911 CAD Additional Factors: Recent increase in capital gains inclusion rate in Canada may lead to profit-taking and sale of CAD assets, contributing to a short-term decline in the EUR/CAD exchange rate. Long-term Outlook (weeks to months) Key Factors to Consider: Expected easing cycle by the Bank of Canada may negatively impact the CAD and lead to a long-term decline in the EUR/CAD exchange rate. Contrasting monetary policies between the ECB and the Federal Reserve may lead to a long-term appreciation of the CAD against the EUR. Conclusion: The price is expected to go down in the short term, but the long-term outlook is less clear and may depend on the evolution of market conditions and economic factors. Result: ST=Down LT=Down
Long
by orbborisson
The EUR/CAD 1-hour chart shows a clear bullish trend The EUR/CAD 1-hour chart shows a clear bullish trend within an upward-sloping channel, with prices bouncing off support near the 1.4900 level. The pair recently broke above the channel's midline and is heading towards the upper boundary around 1.5100. This suggests the potential for further upside in the near term, with the current price action maintaining support at higher lows. Key points to watch: - Support: 1.4900 (bottom of the channel). - Resistance: 1.5100 (top of the channel). - A breakout above the upper boundary could signal strong bullish momentum, while a rejection could lead to a retracement back to the midline or lower channel support. This setup offers a potential trading opportunity depending on confirmation of the next move. Monitor price action and volume to confirm the breakout or reversal.
Short
by THE-10
1
The EUR/CAD Daily Chart shows trading within a rising channelThe EUR/CAD Daily Chart shows trading within a rising channel structure since early 2023, with the price respecting the upper and lower boundaries of this trend. Currently, the price is bouncing from a key support zone near 1.49, which aligns with the lower boundary of the rising channel. - Key resistance is around the 1.512 area, where the price has repeatedly faced selling pressure. - A breakout above this resistance could push EUR/CAD towards the channel's upper limit near 1.53. - However, if bearish momentum continues, the price may retest the lower channel support around 1.48-1.475. This technical setup suggests a balanced risk-to-reward ratio, with traders awaiting either a breakout or a rejection at key levels. It's a good time to monitor this pair for potential directional confirmation.
Short
by THE-10
EURCAD Trading Opportunity! SELL! My dear friends, My technical analysis for EURCAD is below: The market is trading on 1.5044 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.4975 Recommended Stop Loss - 1.5078 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
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