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EUR-CAD

EURCAD: Double Bottom Surge! Watch Out for Key News TodayHello, Traders! We're seeing an optimistic market scenario unfold with the recent double-bottom confirmation on the 4-hour timeframe for our pair. It strongly indicates a potential upward swing, and we may see levels rising to 1.477 and above. Coupled with the overall bullish market direction, this aligns perfectly with our trading predictions. Today, the market's pulse will be determined by key economic events and news. Noteworthy among these are: The Bank of England Minutes and Monetary Policy Report. BoE's Interest Rate Decision and Governor Bailey's speech. US Challenger Job Cuts and Initial Jobless Claims for July. USD Nonfarm Productivity for Q2 and ISM Services PMI for July. These are crucial market influencers and can cause quick price fluctuations. Keep an eye on these indicators and stay prepared to adapt your positions accordingly.
Long
by FX-TradingLions
EURCAD Daily still uptrend.This should be pullback to go higher? **Find out more from my Tradingview Stream this week** *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me, you can gift me some coins on tradingview! 😁 Thank you! 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!
Long
by Shadowing_The_Big_Boys
EURCAD SHORT/SELL 🔰 Pair Name : EUR/CAD 🔰 Time Frame : 4H 🔰 Scale Type : MID Scale 🔰 Direction : SHORT/SELL 📈 EURCAD Technical Analysis Update 📉 Greetings, fellow traders! 🤝 Today, we delve into the technical aspects of EURCAD on the TradingView chart. Over the past year, EURCAD has been maintaining a monthly uptrend since July 2022. However, starting from April 2023, the pair reached its 5th wave high and has since been exhibiting signs of a shift towards the downside. Notably, during the period between mid-June and mid-July, EURCAD successfully retested the 23.6% Fibonacci level following a robust daily breakout, creating a notable market imbalance below. At the onset of this week, the price demonstrated fresh key highs and formed two compelling daily bearish pin bars after filling approximately 50% of the market imbalance above. In our professional assessment, it is highly likely that the price will embark on a downward journey to retest the market imbalance left below, aiming to reach the 1.442 level. This move could potentially lead to a decisive breakout of the current uptrend channel. Our vision for EURCAD entails a minimum target of 1.442, followed by 1.43242, as it progresses through the selling liquidity collection phase. Keep a vigilant watch on the evolving price action, and may the markets favor your trading endeavors! 🌟 #EURCAD #TechnicalAnalysis #ForexTradingView
Long
by Moon_SmartMoney
EURCAD: Plan is being executed perfectly.EURCAD is on a strong rise following the double Support test as outlined on the plan we published 6 weeks ago (see chart at the end). The 1D timeframe is on green technicals (RSI = 64.005, MACD = 0.003, ADX = 30.986) but the RSI is near the top of the 8 month Channel Down, so it would be justifed to see a technical pullback near the 1D MA50 before the 2nd part of the rally. TP1 = 1.46480 is already hit, TP2 = 1.47485 is near so we will be prepared to add another buy if the price pulls back. We place a new target on the Symmetric R (TP3 = 1.49360) and will only pursue TP4 = 1.51145 if the 1D MA50 holds after a new pull back. Otherwise the trend will turn bearish again to the lower S levels. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
EURCAD above the 1D MA50, aiming at 1.49250 by end of the month.The EURCAD pair has established trading above the 1D MA50 in the past 3 days and today should attempt to re-test it as a Support. Technically, this is the start of a bullish leg similar to Feb 15- Apr 25 towards the yearly High. Even though the last confirmation will be when the 1D RSI breaks above its Lower Highs trend-line, we are going already long on EURCAD to take advantage of the low price and target the 0.786 Fibonacci retracement level (1.49250) initially and the 1.51150 High in extension. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
3
EURCAD, H4 | Potential bullish bouncePrice has broken a key resistance-turned-support at 1.4516 which forms the basis of our potential bounce - this level also happens to coincide with the 23.6% Fibonacci retracement. A bounce from here could see prices rise towards the 1.4631 level which is our next big overlap resistance. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM EU LTD (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Long
by FXCM
EURCAD on the MA50 (1d) after 2 months.EURCAD hit today the MA50 (1d) for the first time since May 12th. The real pivot though that turns the trend from bearish to bullish and vice versa, has been the MA100 (1d), which is currently a little higher at 1.45996. A candle close over it, is a buy signal, despite the presence of Resistance (1). The long term trend remains bullish supported by the MA200 (1d) and the Rising Support since August 2022. Trading Plan: 1. Buy if the price closes a candle over the MA100 (1d). Targets: 1. 1.5000 (near Resistance 2) Tips: 1. The RSI (1d) has formed a Channel Up pattern which is consistent with the rallies of November 2022 and February 2023. Please like, follow and comment!!
Long
by TradingBrokersView
EUR/CAD long +150 pipHello Traders it seems that EUR/CAD is in the correction phase. Short term price action tells us that EUR/CAD is bullish near term. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by FortunaInvestments
2
✨ NEW: EURCAD ✨ SWING TRADE ✨TP3 @ 1.4765 (closing ALL Buy Orders) TP2 @ 1.4625 (shaving 25%) TP1 @ 1.4466 (shaving 25%) BSO @ 1.4375⏳ BLO @ 1.4315⏳ TECHNICAL ANALYSIS: — The EURCAD is currently trading at 1.43431 — The moving averages are all pointing upwards, which is a bullish signal — The RSI is in the overbought zone, which could signal a potential sell-off — The MACD is crossing above the signal line, which is a bullish signal Overall, the technical analysis for EURCAD is bullish. However, the RSI being in the overbought zone that could signal a potential sell-off. Based on this calculated guess, I'm going my chances with a Buy Order(see above) HIGH IMPACT EVENTS: — The economic outlook for the Eurozone and Canada — The interest rate differential between the Eurozone and Canada — Crude oil prices — Geopolitical events FUNDAMENTAL ANALYSIS Interest Rates: The European Central Bank (ECB) has raised interest rates twice in 2022, while the Bank of Canada (BoC) has raised rates four times. This has put upward pressure on the Canadian dollar and downward pressure on the euro. Inflation: Inflation is slightly higher in Canada. This could lead to further BoC rate hikes, which would continue to put downward pressure on the euro.
Long
by ProfessorCEWard
1