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EUR-CAD

EURCADIn the daily time frame, we reached a strong resistance level, and in the lower time frames, we see weakness in the current movement. This weakness can be seen in the negative divergence and we expect to see the price return to the specified area in these areas. By checking the skewness coefficient, we realize that this weakness started from very low areas and became more obvious at the current peak. According to the news on both the euro and the Canadian dollar, it is not unlikely that it will hold for a few hours in this area and it is better to wait for the failure of the red area.
Short
by HamidRamezani1992
EURCAD 1.445 key level 🦐EURCAD is exhibiting a bearish technical pattern on the 4-hour chart. The triple top pattern suggests that the price has reached a resistance level that it cannot break through, and the subsequent drop to the 1.42500 support area reinforces this idea. Moreover, the fact that the 1.44500 level is acting as resistance after being support in the past indicates a shift in market sentiment, which further supports a bearish outlook. Additionally, the price is currently testing the 0.786 Fibonacci retracement level, which is a key level for many traders. If the market breaks below the 0.5 Fibonacci support level, it is likely that we will see a continuation of the bearish trend, and it may be a good opportunity to enter a short position. A potential target for the short trade could be the support level at 1.42500. Overall, the technical analysis suggests a bearish outlook for EURCAD on the 4-hour chart, and traders should consider the possibility of entering a short position if the market breaks below the 0.5 Fibonacci retracement level. However, as with any trading decision, it is important to wait for the condition of the MTB Plancton's strategy to be satisfied.
by InkyGrip
10
EURCADEURCAD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
4
EurCad - Manipulation Point TradingBias: Short Market Cycle: 2 PA is currently in phase 2 of market cycle after a 1st push down on friday. Today is the last day to look for phase 2 before we move back to an open bias.. Notice how price is also trading down in a bearish channel since 2nd Feb, we also have our MP lined up with the top of the channel so i would expect some kind of reaction from here.. Follow the rules to the system, they keep us safe and provide quality entry's... If it doesn't fit our strategy, it's not our money....
Short
by gfx-trading
New Bullish update on EUR/CADThe EURCAD is currently trending inside an ascending wedge pattern that technical traders take as a bearish reversal pattern. However, the pair just hit an intraday demand area (bottom) which has been consistent for an immediate bullish push-back to touching the pre-existing supply zone (top). The current triple bottom also indicated a divergence in price which technical traders could use in pushing the price a little bit up again. Alternatively, a break below the demand area could initiate a further sell off towards Jan low at 1.4230. Traders may keep a close eye on the EURCAD.
Long
by Adefxc
j.Hejazi | EURCAD waiting for breakoutThe EURCAD currency pair has formed a triangle pattern with a divergence on the MACD indicator. This pattern also appears to show triple tops with another divergence. These patterns are located at a strong resistance area, as the price is touching the 200-week moving average and testing the key level of 1.46350. To consider a sell signal, the price must break the neckline of the triple tops and triangle. However, if the price moves up and breaks the moving average, it must also break the 2 yearly resistance trend lines at 1.47313 to be considered a buy signal. ---------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
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OANDA:XAUUSD
by CHART-EX