EURCAD POSSIBLE DOUBLE BOTTOMTHERE IS A POTENTIAL DOUBLE BOTTOM FORMING FOR EURCAD I HAVE PLACED A BUY STOP MARKET NOISE ABOVE THE NECK LINE AND STOP LOSS AT THE PREVIOUS LOW>
EUR-CAD
EUR/CAD Long Term Bearish ViewGood morning traders, today we bring you our analysis in the Weekly chart of the EUR/CAD pair, which is practically in free fall.
🔸The price was in a strong ranging process, which lasted about a year.
🔸Clearly, it was a process of distribution, which now started a sharp decline, breaking the Ascending Trendline.
🔸Our vision is absolutely bearish, and definetly we will NOT look for a reversal in the short term, unless it is a very low timeframe trade.
🔸The next support zone is around 500 pips, which was the 2020 low.
EURCAD TP1 HIT FOR +60 PIPS! LAST WEEKS RECAP FRIDAYSo our final trade placed on early friday morning was the EURCAD pair. We've watched this position for weeks lining up and we knew it was going to be a big one. We secured huge capital gains in this trade and was very confident that the trade would play into our favour. The pair fell nicely into profits within the first 20 minutes of entering and continued to fall deeper and deeper. Around 3 hours later and our first Take profit target was reached for a total of +65 Pips. We then allowed TP2 to run further until eventually we manually closed out and secured a further +80 Pips before the market closure on friday.
This week we have had wining trades and loosing trades but all together we are up roughly +245 Pips for a total of 3 days trading. Last week was a massive week for us here at forexinsihgtsuk and we are now back on the grind this morning looking to continue analysing the markets for the best setups.
We stay humble and we move forward.
Happy Monday traders. Good luck!
EURCAD possbily see a bounce?Bounce at 1.505 area? If it breaks and fails to hold,likely more down side.
Bias still down even if retraced.
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
Key Level Trade SetupThis is a really good key level trade setup. We are sitting on the strongest level on the chart: the monthly.
Since there is a bearish engulfing that formed on the weekly. Pretty sure we're going to go up this week to retest it around the 1.52359 area to retest before continuing down.
BULL TPS:
• 1.50871
• 1.51494
• 1.51918
• 1.52278
BEAR TPS:
• 1.50533
• 1.49638
• 1.48699
• 1.47279
EUR/CAD EURCAD consolidates in a sideway channel after an upward impulse. The support level will be tested soon.
Best regards EXCAVO
EURCAD: Important Breakout & Bearish Forecast
EURCAD finally broke below a strong support cluster on 4H.
The candle successfully closed below the structure.
Taking into consideration that the trend on the pair is bearish,
I expect a bearish continuation.
First goal - 1.516
EURCAD is approaching resistance, potential reversal |4 Mar 2021Price is approaching resistance where we could see a reversal below this level.
EURCAD - Trend Reversal ImminentEURCAD is ripe for reversal as it is at the bottom of the major channel. For confirmation, await a break of the descending trendline and a retest.
See links below for further charts relating to this idea.
Trade Safe!
EURCAD - Trend Reversal Imminent EURCAD is ripe for reversal as it is at the bottom of the major channel. For confirmation, await a break of the descending trendline and a retest.
See links below for further charts relating to this idea.
Trade Safe!
EUR/CAD On a Critical Support - What to expect to trade?Good morning traders, today we bring you our daily chart analysis of the EUR/CAD, along with a short-term explanation to know what to expect to trade this instrument.
🔸As we can see, this pair has not been on a clear trend for some time, and at this moment it is facing a strong demand zone.
🔸From here, we can consider two visions.
🔸The first, in case of a bounce to the upside, we can consider a possible movement in that direction towards the resistance zone.
🔸And the other is, in case of a bearish break of the support zone, we can consider a movement in that direction towards the next support zone.
The question is, how do we trade this movement?
🔸As we see in the image we will expect the following behaviors, break of the support in case of the bearish trade, and break of the channel in case of the bullish trade. Once these moves occur, we will wait for a retracement or retest and then consider a potential trade.
EUR/CAD SELL SIGNALPerhaps this will be the final move down for the EUR/CAD before the trend reverses to the upside
📚 What To Look for When ChartingHere is a chart of EURCAD. There were various opportunities available both short term and long term. Once you can identify chart patterns, you can easily anticipate where price will go next.
A great chart pattern that I always use is flags - Bull Flags and Bear Flags. In the chart you can see that many times price impulsed and then created a flag and then carried on with the move. Flags can be found both in higher timeframes as well as lower time frames.
Be sure to look out for them!
Eur/cad analysisA bearish set up on this pair would be preferable but we will simply trade what we see.
Lets see how price develops further.
Whats your bias? Let me know.
EURCAD// Gartley PatternPrice has currently printed a Gartley Pattern. To the left a larger similar pattern was formed with price retracing to the midpoint of the M. I'm looking to take advantage of the same thing happening again, however, I'd like to see some decrease in momentum before I enter.
There is also possibility for price to continue downwards toward the red area, and even towards the trendline at -0.618 (1.52325) THEN make a retrace. Patience will be key.
EURCAD: The price BACK to its TRENDLINEHi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything !
🟢 Forex Pair :
EUR/CAD
⚪ Technical Analysis :
Since the end of December 2020, the price has been moving creating an interesting symmetrical triangle pattern.
On the 20th of January 2021, the level at about 1.52750 rejected the price, ending a strong bearish movement.
This level defined our secondary trendline, re-tested during the 5th of february.
Few hours ago, the price got a second rejection on the daily support level at about 1.54300 and there is a possibility to see a new re-test of its trendline.
🔴 Conclusion :
In the daily chart, the price closed with an interesting bearish pinbar just around its EMA 200 and it could define a possible sign of weakness.
In the H4 chart we still have a bullish movement but I'm confident to see an upcoming downtrend, the S/R zone at about 1.54300 is a strong area that rejected the price many times in the past and the price got a rejection just below its ema 200.
By the way, I wouldn't get a position right now, instead, I'll be waiting for the price to reach its secondary trendline and then I'll try to understand the price action on that area before planning my short position on this trade.
Stay tuned for Updates and Trading Signals !
What's your opinion? Share your idea writing a comment!
⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️
Trade Safe and Responsibly ,
Gianni
EURCAD intraday looking promising between two key areasEURCAD BUY Intraday
start: 1.53778
stop loss: 1.53625
take profit: 1.54182
