EUR/CAD: Interesting Key Level Reached!!
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the EUR/CAD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
1 hour timeframe:
The market has been following a downtrend since a while and currently approached on a solid weekly key level that rejected the price many times during the past years!
The 4h timeframe is showing an interesting movement inside a an ascending channel, so a possibility of a bullish impulse is quite high.
Focusing on a lower timeframe the price seems is shifting value area and eventually it could start a new intraday uptrend if the new value area is confirmed.
When, where and why would I step into the market?
Considering still an overall downtrend, I will need more confirmations before planning a long position on this trade.
First of all in order to confirm a possibility of a new channel, I will be looking for a new price control and one more HH and HL to confirm the validity of the pattern, following by an intraday trend reverse.
Only when I will satisfy this condition, then I will plan a long position!
My SL would be just below the potential HL, manually moving the SL on every swing that the market will probably perform.
However, at the moment the price is quite far from the key level, so I will not take any action.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
1 hour timeframe:
The market has been following a downtrend since a while and currently approached on a solid weekly key level that rejected the price many times during the past years!
The 4h timeframe is showing an interesting movement inside a an ascending channel, so a possibility of a bullish impulse is quite high.
Focusing on a lower timeframe the price seems is shifting value area and eventually it could start a new intraday uptrend if the new value area is confirmed.
When, where and why would I step into the market?
Considering still an overall downtrend, I will need more confirmations before planning a long position on this trade.
First of all in order to confirm a possibility of a new channel, I will be looking for a new price control and one more HH and HL to confirm the validity of the pattern, following by an intraday trend reverse.
Only when I will satisfy this condition, then I will plan a long position!
My SL would be just below the potential HL, manually moving the SL on every swing that the market will probably perform.
However, at the moment the price is quite far from the key level, so I will not take any action.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.