EUR-CAD
EURCAD SHORTIf you look left, there’s a circle. I’m looking for that same pattern at this resistance level. Potential ABC pattern setting up. Looking for a 1:1 minimum. I set a limit order at the recent high where the A leg started. I’m also looking for price to test that same recent high before a leg further down in price. Price has also been rising on low volume. If we miss it, no need to force it. Heading to bed so if it looks better during the day I may update with a market execution instead. Not advice.
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EURCAD Rally most likely coming to an end.The EURCAD pair has been rising since the September 28 bottom on the bullish leg of the 9-month Channel Down, turning both the 1D MA200 (orange trend-line) and the 1D MA50 (blue trend-line) into Supports. The uptrend hit the Internal Lower Highs trend-line last week, got rejected but was supported on the 1D MA200 and is testing it yet again today.
As the 1D RSI is making a Double Top rejection under the 2023 Resistance Zone, we may have the first medium-term sell signal emerging and a 1D MACD Bearish Cross will confirm it. In that case, sell and target the 1D MA50 at 1.4500. Those who wish to take some more risk, can extend selling to 1.4400 (-2.43% decline, in line with past pull-backs).
If however the pair closes a 1D candle above Resistance 1, we will take the loss on the sell position and open a buy instead, targeting Resistance 2 at 1.51000.
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EURCAD: Friday rejection from dynamic trendlineWe saw another rejection from a long standing descending dynamic trendline on Friday, I'm expecting a fall from here back down to support around 1.4275.
Will be closely watching action around the 1.435 mark, but overall we're printing HH's and HL's on the higher timeframes (although still within a range), let's see what happens but I think we're definitely headed south from here.
EURCAD SELL | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity EURCAD
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EURCAD 1day MA50 break out. Buy.The EURCAD pair crossed over the 1day MA50 yesterday for the first time in 6 weeks and today is closing over it.
This is a bullish extension signal towards at least the Falling Resistance.
Every bullish sequence in 2023 following a 1day MA50 break out has made at least a +4.21% rise.
Buy now and target 1.46800 (Falling Resistance).
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EURCAD Breakout and Potential retraceHey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.44100 zone, EURCAD was trading in an uptrend and successfully managed to break it out. currently we are waiting for a correction in order to see a potential retrace of the trend towards more lows.
Trade safe, Joe.
EURCAD Potential Downsideshey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.45400 zone, EURCAD was trading in an uptrend and successfully managed to break it out. currently is in a correction phase in which it is approaching the retrace area at 1.45400 support and resistance zone.
Trade safe, Joe.
EURCAD, Huge H-S-Formation, BEAR-Acceleration to Emerge!Hello There!
Welcome to my newest idea about EURCAD. Within recent times there have been grievous developments within the whole forex market developments that should not be underestimated in any case, there are several factors and forex pairs to consider, the economic Eurozone field is still in a not completely recovered condition field because there are crucial ongoing supply-chain disruptions still battering the Eurozone economic field. These supply-chain disruptions should not be underestimated in any case because they are actually fueled by the fact that inflation is still extremely high and high interest rates do not decrease the supply-chain disruptions.
When looking at my chart these major disruptions within the market have been followed by the continued bearish accelerations towards the downside always emerging with the bearish waves and accelerating the bearish momentum. Now EURCAD already formed the breakouts below the 100-EMA confirming the EMA as a major resistance from where further pullbacks towards the downside are highly likely. This means that the next lower lows within the upcoming times are underlining and pointing to huge bearish momentum acceleration spikes towards the downside.
Besides this EURCAD is forming this gigantic head-shoulder formation in which it is going to complete the right shoulder once it has formed the breakout below the main supports and neckline of the formation. This final confirmation of the crucial head-shoulder formation in almost all of the cases is the origin of high momentum into the bearish continuation. Especially, once the formation has been completed this is going to lead to the breakouts below the EMAs, and considering further ongoing supply-chain disruptions as well as a stagflation Eurozone economy because of high inflation in combination with supply-chain disruptions this is going to accelerate the bearish dynamics.
In this manner, thank you everybody for watching my analysis of OIL. Support from your side is greatly appreciated.
VP
EURCAD, Huge Double-Top Formation, BEARISH Flag-Setup!Hello There!
Welcome to my new analysis of EURCAD from the 4-hour timeframe perspective. Within recent times the forex currency pair already emerged with a massive bearish inclination that should not be underestimated especially as the momentum already reached an accelerated point. Now, a major consideration is whether this bearish dynamic holds on or is going to accelerate much more within the upcoming times. In my analysis, I have considered the backend analytics and what should be expected with the pair within the current market situation, especially with the major underlying bearish inclinations.
When looking at my chart now, the most important part of my chart is this gigantic double-top formation with the first and second tops already being completed. Since EURCAD formed the second top within the whole double top formation it heavily accelerated with the bearish momentum finally breaking out below the boundary of the double top formation to accelerate the massive bearishness below these boundaries. Also, important here is that a major bearish EMA crossover is marking a huge resistance and is confirming the bearish downtrend dynamics.
With the completion of the gigantic crucial momentous double-top formation, EURCAD is setting up a massive bearish inclination especially as it is forming the next bearish flag below the boundary breakout zones. This bear flag formation is likely to complete within the next time and is going to accelerate the bearish momentum continuations towards the lower levels. First of all, the first target zone that has been activated is the minimum target zone of 1.409 as marked in my chart. Once this target zone is reached and the bearish momentum accelerates the price is going to continue below these zones.
Taking all these factors into consideration here, EURCAD is now about to set up the next bearish continuation wave which will reach the next bearish acceleration triggers once the bear flag formation to complete the double top confirmation has been finally completed with a breakout towards the downside. Depending on the bearish momentum that is going to prevail after the breakout setup it will be important on how the bearish momentum actually sets up and how it reaches the target zones. Because, especially when the momentum increases by 4x in momentum pace there is a high possibility for the bearish continuation to move further into the bearish ground continuation. It will be a highly crucial determination.
In this manner, thank you everybody for watching my analysis of EURCAD. Support from your side is greatly appreciated.
VP
EURCAD Potential DownsidesHey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.42900 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.42900 support and resistance area.
Trade safe, Joe.
EURCAD: Support breakout, continuation following retest?We can see that EURCAD has been on a downtrend since the last week of August.
With Oil prices rising I think the fundamentals for the Canadian Dollar continue to look good, the EURO on the other hand doesn't have much going for it.
I have noted a break through support and looking for a short any time soon, there's minor support at 1.402 which will be my target, however I think this won't put up too much of a fight and we'll be down around 1.375 soon.
EURCAD Potential DownsidesHey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.43900 zone, EURCAD is trading in a downtrend and currently is in a consolidation phase in which it is approaching the trend at 1.43900 support and resistance area.
Trade safe, Joe.
EURCAD At a tipping point. Trade according to this Support Zone.The EURCAD pair has been decreasing since the August 30 High that formed the 1.48250 Resistance (1). Being below both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line), the long-term outlook looks bearish, considering also the fact that we may have completed a huge Head and Shoulders pattern since December.
However, the price is decelerating the downtrend as it approaches the 1.42850 - 1.42400 Support Zone (1 & 2), so as long as it holds, we will be bullish short-term targeting the Symmetrical Resistance Zone at 1.46000. If the price breaks below Support 2 (1.42400) we will instead sell and target 1.40250, which would be a -5.50% decline from the August 30 High. Both targets are respectively on the top (Lower Highs trend-line) and bottom (Lower Lows trend-line) of a potential Channel Down pattern that might emerge if the Head and Shoulders prevail.
Note that the 1D RSI is currently oversold, which currently favors the bullish case.
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EURCAD Potential DownsidesHey Traders, in today’s trading session we are monitoring EURCAD for a selling opportunity around 1.44500 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.44500 support and resistance area.
Trade safe, Joe.
EURCAD: Important Breakout 🇪🇺🇨🇦
EURCAD broke and closed below a support of a horizontal range
and a rising trend line.
The violation of both horizontal and vertical key structures is an important sign
of strength of the sellers.
The prices may go much lower now.
Next support - 1.4505
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EURCAD Potential DownsidesHey Traders, in today’s trading session we are monitoring EURCAD for a selling opportunity around 1.46400 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.46400 support and resistance area.
Trade safe, Joe.
EURCAD Potential DownsidesHey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.47300 zone, EURCAD was trading in an uptrend and successfully managed to break it out. currently is in a correction phase in which it is approaching the retrace area at 1.47300 support and resistance area.
Trade safe, Joe.