EUR/CAD Waiting for the Breakout🔸 4H CHART EXPLANATION:
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🔸Price broke the Ascending Trendline.
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🔸As we can observe, it has been choppy for the last weeks consolidating on a corrective structure.
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🔸We are waiting for a breakout to the downside, and also we need a break of the Support Zone. The potential target is the next Support at 1.50500.
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🔸 Will look for a lower timeframe bearish setup once the direction is clear.
🔸 DAILY CHART ANALYSIS:
EUR-CAD
EURCAD - SWING - 21. SEPT. 2020Welcome to our weekly trade setup ( EURCAD )!
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1 HOUR
Very bearish price action!
4 HOUR
Looking for further downside movement this week.
DAILY
Market looks like its turning bearish now..
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FOREX SWING
SELL EURCAD
ENTRY LEVEL @ 1.56050
SL @ 1.56500
TP @ 1.55430
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
EURCAD sit on the 0.618 🦐EURCAD after hitting the momthly resistance retraced back till the 0.618 fib level.
Market is consolidation over a weekly resistance and couldnt break below.
IF the price will break above the daily structure can look for a nice long order according with Plancton's strategy
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Follow the Shrimp 🦐
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 Plancton0618 strategy will trigger.
Depends If The Bearish Trend Can Be Broken This WeekThis pair actually has been fun. It's spent multiple weeks in consolidation just to do it up massive uptick that made me so proud. Then it pulled off this beautiful short, that actually looks like a giant pullback at first glance on the higher timeframes (daily, weekly).
When it hit the daily key level zone at 1.54626 and bounced off as support, it actually respected the several-week major consolidation area and looks to be positioning itself to break the bearish trendline, or to respect it and keep tumbling on down.
This is my favorite pair so I am just going to rock wherever it goes. Lots of pips either way.
BEAR TPS:
• 1.54812
• 1.54058
• 1.52947
BULL TPS:
• 1.56837
• 1.58161
• 1.59955
• 1.61280
Don't miss the great buy opportunity in EURCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.5535). 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 56.
Take Profits:
TP1= @ 1.5645
TP2= @ 1.5700
TP3= @ 1.5752
TP4= @ 1.5826
TP5= @ 1.5980
SL= Break below S2
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Don't miss the great buy opportunity in EURCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.5535). 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 56.
Take Profits:
TP1= @ 1.5645
TP2= @ 1.5700
TP3= @ 1.5752
TP4= @ 1.5826
TP5= @ 1.5980
SL= Break below S2
❤️ 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 do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️