Get started

EUR-CAD

EURCAD for a new high 🦐EURCAD on the daily chart is trading below a weekly resistance at the recent high. The price after the last impulse retraced perfectly at the 50% of the previous impulse over a daily support and moved back to the previous high. How can i approach this scenario? I will wait for a clear break of the structure and if that will happen i will move on the 4h timeframe to look for a nice long order according to the Plancton's strategy rules. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. 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 the Plancton0618 strategy will trigger.
by InkyGrip
13
EURCAD Potential for Bearish Continuation| 18th January 2023Looking at the H4 chart, my overall bias for EURCAD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. However, I am looking to play the pullback. Looking for a sell entry at 1.44722, where the overlap resistance and 38.2% Fibonacci line is. Stop loss will be at 1.45596, where the recent high is. Take profit will be at 1.43608, where the 61.8% Fibonacci line is. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
1
EURCAD: Bearish Outlook Explained 🇪🇺🇨🇦 EURCAD reached a key daily structure resistance. The price has formed 2 doji candles, approaching that on a daily. Analyzing the intraday time frames, I spotted a confirmed bearish breakout of a rising parallel channel on 4H. The price is retesting that at the moment. The market will most likely drop soon to 1.446 / 1.4414 levels. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
7
EURCAD Rejected on the 1 year Resistance. Levels to watch.The EURCAD pair has been on a very strong rise since the August 25 2022 Bottom and hit all of the buy targets we presented on our 1D MA100 (green trend-line) break-out buy signal back on September 19: On December 15, the price got rejected on the Resistance Zone (1) that started a year ago (Dec 20), making so far a Triple Top. That would otherwise be a bearish signal but with the price trading above the 1D MA50 (blue trend-line), while also having the (green) Symmetrical Support Zone (1.4100 - 1.41650), the pair is now neutral. The 1D RSI broke below its July Higher Lows trend-line and is bouncing on the September Support level and as long as it holds, it should keep the price above the Symmetrical Support. We will sell only if the price closes a full candle below the 1D MA50 and target the 1D MA200 (orange trend-line), which is the long-term Support during uptrends. On the other hands a closing above Resistance 1 (1.4650) will be a buy break-out signal targeting Resistance 2 and the 0.786 Fibonacci retracement level. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
EURCAD should be seeing more up sideAfter a strong rally,and a correction downwards since 19Dec. We are seeing buyers coming in again... More upside i believe... **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!
by Shadowing_The_Big_Boys
EURCAD trading at the top of a trend 🦐EURCAD after the last bullish impulse is trading below a strong resistance level . The price is moving above an ascending trendline and a new test of the dynamic support can happen. How can i approach this scenario? If the price will move to the trendline i will monitor the market for a possible break and place an order according to the Plancton's strategy rules. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. 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 the Plancton0618 strategy will trigger.
by InkyGrip
$EURCAD - It's brewing!$EURCAD - It's brewing! I've really enjoyed the long side of $eurcad Technically we are making a inverse H&S We can even go to lower time frame and see that in a perfect measure. Now when I seek to trade patterns, firstly it's important to see break out as well as a great R/R. I would prefer a pull back towards areas of: 1.36 - 1.35 half areas and then perhaps execute first position if we are to break towards upside of resistance we are currently at in GREEN I have drawn 2 target areas I will be looking to scale out in. Now that's way I trade it isn't for everyone. Stop below where the 1.32 half areas giving it enough room and if it is to hit the stop then the pattern would be invalid to me and I would then re plan this trade. Don't forget to trade your own trade plan. Have a great week ahead, Trade Journal
by Trade_Journal
EURCAD short term analysis 🦐EURCAD after the last bullish impulse is trading below a strong resistance level. The price is moving above an ascending trendline and a new test of the dynamic support can happen. How can i approach this scenario? Being Friday i will not open a trade on this pair and i will wait a setup during next week. If the price will move to the trendline i will monitor the market for a possible inversion or a break and place an order according to the Plancton's strategy rules. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. 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 the Plancton0618 strategy will trigger.
by InkyGrip
4
InvestMate|EUR/CAD Correction time💶🍁💶🍁EUR/CAD Correction time. 💶🍁 Looking at the fundamentals: 💶The economy in the Eurozone, according to the latest readings taking place on November 15, grew by 0.2% quarter-on-quarter in the last three months from September 2022. This is the sixth consecutive quarter of growth, worth noting that this is the weakest quarter in terms of growth compared to previous quarters. Also worth noting are the European Commission's views on the future performance of the economy. They warn of an impending recession which is expected to begin in the current quarter, and we may not see increases until next spring. All due to rising inflation and Russia's aggression in Ukraine. Which has caused Energy price increases across Europe 🍁 In Canada, on the other hand, the latest readings that have taken place are for the second quarter in which the economy grew 0.8%, which means maintaining the level relative to previous readings. This is the fourth quarter in a row in which we have recorded increases. The next readings will take place on November 29. The accumulation of business inventories, investments contributed most to the increases for the latest readings. It is also worth noting that an increase in consumer spending also contributed to the increase. On the other hand, growth was undermined by high imports of products from abroad at 6.9%, far outpacing exports at 2.6% 💶 Unemployment in the Eurozone stands at 6.6%. These are better results than before, at the Nov. 3 reading for we recorded a 0.1% drop from previous readings. The next reading will be on December 1. 🍁Canadian Unemployment at 5.2% levels with no sharp changes, the reading took place on November 4 and was exactly the same as October 7. 💶The market in the Eurozone expected inflation to break through recent peaks, with a reading of 10.6% on November 17. This was up from the previous level of 9.9%. The next readings will be on November 30. 🍁 In Canada, inflation is clearly declining. From the peak set in June at levels of 8.1% we scored a drop to levels of 6.9% at the last readings which took place on November 16. The next one is on December 21, and there's no sign that the downward trend is about to reverse. This favors a future slowdown in interest rate hikes, which will weaken the Canadian Dollar against other currencies. Especially compared to the Euro on which the situation is reversed 💶On 27 October we saw a jump in interest rates in the Eurozone to 2% just as everyone expected. This was an increase of 75 basis points from levels of 1.25% 💶Combined with inflation hitting new peaks, it's hard to say here that the Euro will have trouble strengthening in the months ahead. 🍁26 October rate hike in Canada was a full 50 basis points to 3.75% Markets assume that the inflation in 2023 could reach 3% where in 2024 it will fall to target levels of 2%. 🍁 If we maintain the downward trend on inflation we can expect increasingly mild interest rate hikes which will turn into reductions after some time. 💶🍁Turning to the chart. 💶🍁After we scored a bottom at 1.28758 almost three months ago from which we started an upward wave that took us to the levels of 1.38757, an increase of 7.76%. 💶🍁In my opinion, in order to continue the uptrend, the ideal time has come to execute a downward correction resulting from the lack of willing buyers at current price levels, as we can see from the last few days in which the price had a clear problem with breaking new highs. 💶🍁The most sensible support zone looks to be a cluster of two levels. The 0.382 fibo level of the entire upward wave and the 1:1 level of the largest downward correction in the current upward wave. The level is further confirmed by looking at the fact that the price has repeatedly on it previously found the fighting zone of buyers and sellers. 💶🍁The resistance zone remains the zone between the last peak and the 1.272 level of the current downward wave. 💶🍁The scenario I am playing out is a gradual decline in price to reach a support zone at which I expect a reaction that may turn into the next upward wave on this pair. 💶🍁*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
5
EURCAD - Trend-Following Sell Setup!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. EURCAD is still overall bearish from a long-term perspective trading inside the brown channel, and it is currently retesting the upper brown trendline. Moreover, the zone 1.37 - 1.38 is a strong resistance zone . So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper brown trendline. (acting as non-horizontal resistance) As per my trading style: Since EURCAD is approaching the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) and of course, as it retests the blue support, I will be looking for buy setups. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Editors' picks
by TheSignalyst
55
EURCAD Neutral for now. Resistance and Support for the long-termThe EURCAD pair couldn't have traded better our September 19 set-up as the price broke above the 1 year Channel Down and broke above the 1D MA200 (orange trend-line) for the first time since Feb 07 2022, but got rejected on the 1.37150 Resistance: This Resistance rejection pattern has taken place another two times since September 2021 and until we break above 1.37150, we have to be careful of a bearish break-out. For now the 1D MA100 (green trend-line) is supporting but the slightest break below it, can hit the 1.2870 Support and further break the -0.382 Fibonacci extension (1.25500) as the previous Resistance rejections did. A 1D candle close above the 1.37150 Resistance though, would constitute a complete shift to the long-term trend to bullish and target the upper Fibonacci retracement levels (light blue), which as you see match almost perfectly the Lower Highs of the former Channel Down. It is also interesting to observe the RSI on the 1W time-frame. It is struggling to break above its 1 year Resistance and as long as it does, the pattern shows a drop to the Support Zone. If it breaks above the Resistance though, it would also be a long-term bullish confirmation. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot