EURCAD facing short term bullish pressure potential for pullbackPrices are facing short term bullish pressure from horizontal swing low support in line with 78.6% Fibonacci retracement. Prices might push up towards horizontal pullback resistance in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension. If prices push down further, prices might take support from horizontal swing low support, in line with 161.8% Fibonacci retracement and 78.6% Fibonacci extension. Stochastics is also approaching 10.91 support level, potential for bounce.
EUR-CAD
EURCAD is facing bearish pressure, potential for downside!Prices are facing bearish pressure from horizontal pullback support in line with 61.8% Fibonacci retracement. Prices might push donw towards horizontal swing low support in line with 100% Fibonacci extension and 127.2% Fibonacci retracement. If prices push up further, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
EURCAD a bounce over the trendline 🦐EURCAD after a long downtrend tested a few times the string trendline around the 1.47 level.
The price started a new impulse and broke above a daily resistance.
According to Plancton's strategy if the condition will be satisfied we can set a nice long order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
EURCAD has not much strength but wants to climbMy Marketmiracle advisor generated an input signal for EURCAD at a price of 1.476860 with a target of 1.484264 for a profit of 0.50%
What I immediately noticed is that the Marketsentiment is heavily negative so I expect that despite the pressure on the market is LONG the cross rises in price but does the essential without too many leaps of joy.
The one described on the graph is the behavior I expect to see in the next few days.
The idea is supported by others that see appreciation of EUR and depreciation of CAD
This idea is based on a signal generated by the advisor Marketmiracle, down on this page you will find the link to the page of signals of the advisor that you can see for free without any cost or registration
💡Don't miss the great buy opportunity in EURCAD
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (1.46934).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURCAD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 59.
Take Profits:
TP1= @ 1.47855
TP2= @ 1.48397
TP3= @ 1.48955
TP4= @ 1.49463
TP5= @ 1.50572
SL= Break below S2
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EURCAD a bear continuation? 🦐EURCAD broke below the 1.47500 area and now is ranging between the resistance and a minor support.
According to Plancton's strategy if the price will break below we will set a nice short order.
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
EUR/CAD breaking a channel lineThe pair is breaking through a strong resistance line, which has been retested several times in the last weeks. A possible positive movement is expected. Take your profits at the shown levels.
TP1: 1.47880
TP2: 1.48430
For the idea, I am using a 4h time frame. I believe in bigger time frames, as they prove to show more stable results.
Please like and follow, if you like my ideas
Good Luck and Good Trades
Double Tap With Weekly Key Level Setup This is a major key level set up With the weekly level being the star of the show this week. I am looking for either a pullback off this level that will be bullish of course. Or a smaller pullback that could lead to a continuation further down.
My bias? This is about to be a reversal. We already reached this area on March 31st. Now we have returned. This could be a double-tap move for the bull run. We'll have to watch it and see.
BULL TPS:
• 1.47951
• 1.48377
• 1.49166
BEAR TPS:
• 1.46560
• 1.45902
EUR/CAD - Break of Market Structure What Is The Market Telling Us?
Price has been in major downtrend since 21st April
Break of market structure occured (BMS), pushing price downwards
Price is currently forming a retracement phase before bearish impulse
What are Market Participants Doing?
89% of retail traders are long, meaning instituions are still shorting this pair
Smart money report (banks & institutions) show over a 90% consumption on EUR shorts
20,000 lots on EUR has been added to the short side
May Be A Pullback Before A Bullish ContinuationLooks like a correction is happening before we continue the bull run with this pair. I missed the move paying attention due to watching higher volume pairs, But will keep an eye on it this week from here on out. When this pair moves, it MOVES. So here are the TPS I want to see the price complete when it makes a full decision where it's going.
BULL TPS
1.49803
1.50555
1.52001
BEAR TPS
1.48504
1.48060
1.47507
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💡Don't miss the great sell opportunity in EURCADTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1.50258).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURCAD is in a downtrend and the continuation of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 39.
Take Profits:
TP1= @ 1.49565
TP2= @ 1.49176
TP3= @ 1.48679
TP4= @ 1.48014
TP5= @ 1.47239
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️