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EUR-CAD

EUR/CAD A Great Scalp Opportunity Directly After Market OpenThe price of EUR/CAD follows this fib retracement nicely. We see that the zones of .786, .618, .5 are incredibly strong supports, but even the .382 and the .236 zones seem to play a role here. For scalping the price today, I suggest trading near these areas and expect support or resistance on the fib levels. It is important to note that there are two more levels that are important, shown by the black horizontal lines. These mark support and resistance based on earlier price action. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! My previous idea on EUR/CAD:
Long
by Trading-Guru
4
EURCAD Bullish Confluence on RSI Bullish Divergence and SupportThere are multiple interesting things going on here on EURCAD from a techncial analysis perspective. The price has hit this horizontal support zone three times earlier already, and all times resulted in a bullish continuation. Furthermore, a Bullish RSI Divergence has formed, indicating a bullish continuation of the price. Now that we achieved confluence through an RSI Bullish Divergence, and a fourth hit of this support zone, I will suggest a LONG position. The price has immediately confirmed both the support zone and the RSI Divergence by printing a nice green candle on the 1h. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! Recent success stories
Long
by Trading-Guru
4
Don't miss the great sell opportunity in EURCADTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.5670). 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 downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 50. Take Profits: TP1= @ 1.5525 TP2= @ 1.5330 TP3= @ 1.4975 SL: Break Above R2
Short
by ForecastCity
10
Don't miss the great sell opportunity in EURCADTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.5670). 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 downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 50. Take Profits: TP1= @ 1.5525 TP2= @ 1.5330 TP3= @ 1.4975 SL: Break Above R2
Short
by ForecastCity
16
EUR/CAD: TECHNICALS, CORRELATION, DATAThe EUR/CAD pair traded near multi-year highs after a strong sell-off in Brent crude (yellow line, inverted). However, buying pressure seems to be easing and German/Canadian 2y yields show a strong divergence with the current exchange rate. Brent is trading at $33, well below the profitability threshold of US oil producers but above the cost base of Saudi Arabia and Russia (which lies around $10-$15 per barrel.) Any push below $27 (a major support for oil) may be therefore capped, especially when demand increases after the coronavirus threat gets under control. Economic surprises and positioning for both currencies are around neutral. News narrative is slightly more bearish for the euro after today's ECB meeting missed market expectations for a coordinated move of the ECB and the EU.
Short
by MujkanovicFX
2