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EURCAD trade ideas

Could the price bounce from here?EUR/CAD is falling towards the support level which is an overlap support that is slightly above the 38.2% Fibonacci retracement and also slightly below the 61.8% Fibonacci projection and could bounce from this level to our take profit. Entry: 1.5548 Why we like it: There is an overlap support level that is slightly above the 38.2% Fibonacci retracement. Stop loss: 1.5415 Why we like it: There is a pullback support level that lines up with the 50% Fibonacci retracement. Take profit: 1.5697 Why we like it: There is a pullback 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 Will Go Lower! Short! Take a look at our analysis for EURCAD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 1.562. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 1.534 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. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
EUR/CAD Bearish Reversal Setuphello Trader what are your thoughts on eurcad. Enrty: 1.59-1.60 stop loss 1.61 take profit 1.50 Analysis: Key Resistance Zone: The red-highlighted area around 1.5800 marks a strong resistance zone where price previously faced rejection. Double-Top Formation: A potential double-top pattern is forming, indicating a bearish reversal. Bearish Projection: The blue trend lines suggest a downward move after a possible retest of the resistance area. Support Levels: The marked horizontal blue lines at 1.5581, 1.5411, 1.5269, 1.5151, and 1.4977 represent key support levels where price might react. Target Area: The projected move suggests a decline towards the 1.5151 level, with further downside potential toward 1.4977.
Short
by KingProTrader
1
Bullish Pullback (Bullish Flag) or Trend Reversal**EUR/CAD (4H) Chart Pattern Analysis** 📊 Based on the **4-hour chart**, here’s a breakdown of the **current market structure and potential trade setups**: **🔍 Chart Pattern: Bullish Pullback or Trend Reversal?** - **Trend:** The market has been in a **strong uptrend**, with price consistently trading above the **50 EMA (yellow line)**. - **Recent Pullback:** The price has retraced slightly after making a **higher high**, but it is still respecting the **21 EMA (purple line)** and **50 EMA (yellow line)**. - **Possible Pattern Formation:** - **Bullish Flag:** If the price consolidates and breaks above **1.5700**, we could see **continuation to new highs**. - **Double Top Reversal:** If the price fails to break above resistance and drops below **1.5525**, the trend might reverse. **📈 Bullish Scenario (Trend Continuation)** ✅ **Entry:** Buy on break and close above **1.5700** ✅ **Stop Loss (SL):** Below **1.5620** (recent support) ✅ **Take Profit (TP):** - **TP1:** 1.5750 - **TP2:** 1.5800 - **TP3:** 1.5850 (extended target) 📌 **Confirmation Needed:** - Strong bullish candle closing above **7 EMA & 21 EMA** - Volume increase on breakout --- **📉 Bearish Scenario (Trend Reversal)** ❌ **Entry:** Sell if price drops below **1.5525** ❌ **Stop Loss (SL):** Above **1.5650** ❌ **Take Profit (TP):** - **TP1:** 1.5480 - **TP2:** 1.5400 - **TP3:** 1.5350 (major demand zone) 📌 **Confirmation Needed:** - **Break of 50 EMA** with strong bearish momentum - Increased selling volume --- **📊 Summary** 🔹 **Trend is still bullish**, but price needs to hold above 21 & 50 EMA for continuation. 🔹 **Key Level:** **1.5700 for bullish breakout** OR **1.5525 for bearish reversal**. 🔹 **Wait for confirmation before entering a trade!**
by TradingStar090
EURCAD Wave Analysis – 12 March 2025 - EURCAD reversed from the resistance area - Likely to fall to support level 14.20 EURCAD currency pair recently reversed from the resistance area between the long-term resistance level 1.5800 (which has been reversing the price since the start of 2020) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous upward impulse wave (3). Given the strength of the resistance level 1.5800, EURCAD currency pair can be expected to fall to the next support level 14.20.
Short
by FxProGlobal
EURCAD - Weekly Forecast - Technical Analysis & Trading IdeasOANDA:EURCAD 💡 Daily Timeframe: As forecasted by 4CastMachine AI, The Euro also reached our TP7 at 1.5777 by breaking the resistance at 1.5156. The broken resistance area will serve as our new support area and Buy Zone. As long as this area is not broken down, there is a possibility of a resumption of the uptrend. If the price enters our new buy zone with a corrective wave and is rejected from it, we will enter with buy trades. 💡 H4 Timeframe: The bearish wave is expected to continue as long as the price is below the strong resistance at 1.5857 💡 H1 Timeframe: The uptrend is broken, and price is in an impulse wave. 1.5729 support is broken now. It will act as a Resistance now! Forecast: Correction wave toward the Sell Zone Another Downward Impulse wave toward Lower TPs __________________________________________________________________ ❤️ If you find this helpful and want more FREE forecasts in TradingView, . . . . . . . . Hit the 'BOOST' button 👍 . . . . . . . . . . . Drop some feedback in the comments below! (e.g., What did you find most useful? How can we improve?) 🙏 Your support is appreciated! Now, it's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Have a successful week, ForecastCity Support Team
Short
by ForecastCity
15
EURCAD is in the Up-TrendHello 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
1
EUR/CAD CREATES 240 WEEKS HIGH AFTER MARCH RATE CUTSeveral factors have influenced EUR/CAD in recent times. Despite last week’s rate cut, the pair continued to rally, driven by market sentiment and optimism about a potential shift in monetary policy. From Eurozone inflation, currently at 2.4%, which slightly eased from January’s 2.5%, which contributed to the ECB’s decision to cut rates in March 6th by 25bps, to escalating trade tensions between the U.S. and Canada, with the U.S. announcing plans to double tariffs on Canadian steel and aluminum to 50% in response to Ontario’s electricity surcharge each development has played a role in shaping price action. Since June, the ECB has lowered rate for six times but offered no clear guidance on future policy during it last policy meeting, thereby leaving markets uncertain amid a period of heightened volatility, further exacerbated by the Trump administration’s challenge to established international cooperation. Earlier today, the ECB president Christian Lagarde said "Our expectations have indeed been swept aside in the last few years, and in the last few weeks in particular, "She also said. "We have seen political decisions that would have been unthinkable only a few months ago." Therefore, "We can be clear about our reaction function, and notably how we are likely to be affected by changing circumstances and what kind of data we will look at," UPCOMING CATALYST The Bank of Canada’s rate cut decision is set to be released today, March 12, at 5:45 PM GMT+4 (Dubai time), with the market already pricing in a 25bps cut. Looking ahead, Canada’s inflation data is scheduled for release next Tuesday, March 18, followed by retail sales data on Friday the 14th. These key economic indicators have the potential to drive significant market volatility, making it crucial for traders and investors to stay alert for potential price movements. TECHNICAL VIEW The EUR/CAD maintained its bullish momentum, reaching a 240-week high of 1.5857 on March 11, 2025. However, the pair rebounded after encountering strong resistance at the psychological 1.5900 level. This pause suggests investors are taking profits while awaiting the Bank of Canada (BoC) rate decision later today and assessing the market impact of the newly imposed 50% U.S. tariffs on Canadian imports. As the price retreats, the 1.5581 level emerges as a minor support to watch, aligning with the 23.6% Fibonacci retracement level. On the overall, the pair remains bullish, extending its gains from the previous week. If buying momentum persists, the price may attempt another push toward the 1.5900 resistance and a break above could potentially target 1.6000 in the coming weeks. However, if sellers gain control following the BoC rate decision, the decline could extend towards key Fibonacci levels: 1.5581 (23.6%), 1.5410 (38.2%), 1.5271 (50.0%), and 1.5133 (61.8%), with the latter being a particularly strong support zone which was broken on the 3rd of March. The RSI momentum has also remained above the 70 overbought level since late February, signaling a possible market correction as per technical analyst.
by CFI
Could the price drop from here?EUR/CAD has reacted off the pivot and could drop to the 1st support level which acts as an overlap support. Pivot: 1.5866 1st Support: 1.5545 1st Resistance: 1.5995 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