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EUR-CAD

EURCAD - Trend-Following Setup!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. EURCAD is overall bearish 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 around 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
Short
by TheSignalyst
4
EURCAD - DAILY TIMEFRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Long
by Tradelikemee
EURCAD CHART ANALYSISI believe that the last retracement of the price towards the trend line on EURUSD was due to the pressure of the ECB to contain inflation recently. Certainly, there were rumors that the Russia-Ukraine conflict might be taking a turn. Considered the possibility that the Ukraine-Russia conflict would escalate, and sure enough. The best opportunity given this escalation of the conflict was against the CAD, given that it would benefit from the rise in oil prices that the risk-off environment entails.
Short
by Elite_Forex
EURCAD looking up 🦐EURCAD on the 4h chart after a test of the 1.32500 area retraced at the 0.168 Fibonacci level and tested the 1.30 zone. The price is now trading below a daily resistance and some further bullish move can be expected. How can i approach this scenario? I will wait for a potential break and close above the structure and in that case, i will 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.
Long
by InkyGrip
EURCAD Trend Following Setup!Hello Traders, In this week's trading session we will be monitoring XAUUSD for a Buying opportunity in and around 1.32 order block area. Once we get a Bullish confirmation the trade will be executed and shared with our premium members. - RISK DISCLOSURE TRADING IS NOT SUITABLE FOR EVERYONE. TRADING FOREX INVOLVES HIGH RISKS AND CAN CAUSE YOU A COMPLETE LOSS OF YOUR FUNDS! Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose! The high degree of leverage associated with trading currencies means that the degree of risk compared to other financial products is higher. Leverage (or margin trading) may work against you resulting in substantial loss. And feeling a sensation similar to getting sucker punched in the stomach. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Market Opinions BigGainLTD will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. YOU are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Internet Trading Risks There are risks associated with utilizing an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. Since BigGainLTD does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet. Distribution This site is not intended for distribution, or use by, any person in any country where such distribution or use would be contrary to local law or regulation. None of the services or investments referred to in this website are available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of and comply with any local law or regulation to which they are subject.
Long
by BiggainLTD
EURCAD Hit the 1D MA100 for the 1st time since February!The EURCAD pair hit on Friday the 1D MA100 (green trend-line) for the first time since February 24. It just so happens that this contact is taking place at the top (Lower Highs trend-line) of the long-term Channel Down pattern that the pair has been trading in since mid August 2021. This level gives very favorable trading opportunities in terms of Risk/ Reward Ratio. Technically being at the top of the Channel, there are higher probabilities for a rejection but it is not absolute as a break above it as well as the 1D MA100 took place on February 03, which only stopped on the 1D MA200 (orange trend-line) two days later, after making a Double Top rejection on the Channel's previous Lower High. As a result, the risk is very low in selling now and having an SL at the top of the Channel, while targeting the previous Low at 1.28740. If the Channel breaks to the upside, we can take a short-term break-out buy, targeting the 1D MA200. A break and closing above the Resistance (previous Lower High) should be interpreted as a bullish shift of the trend on the long-term. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
1
EURCAD looking up 🦐EURCAD on the daily chart after a consolidation phase broke below and took the liquidity at the 1.2900 level before retesting the 1.32 area. The price is now trading below a daily resistance and some further bullish move can be expected. How can i approach this scenario? I will wait for a potential break and close above the structure and in that case, i will 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.
Long
by InkyGrip
EURCAD: Time to Fall?! 🇪🇺🇨🇦 Hey traders, Update for EURCAD pair. As you remember, we spotted earlier a confirmed breakout of a major daily structure support. Analyzing the reaction of the price to the broken structure, I spotted a confirmed bearish breakout of a rising wedge on 1H time frame. I believe it may trigger a bearish continuation. Goals: 1.296 / 1.2922 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
EUR CAD - FUNDAMENTAL DRIVERSEUR FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE In recent weeks, the persistently high inflation has seen the ECB take a more hawkish turn with the bank hiking rates by 50bsp at their July meeting. Additional pressure on inflation from gas supply shortages and Rhine River levels in Germany means the ECB will be forced to continue hiking rates. But the bank quelled any hawkish excitement at their July meeting by explaining they are frontloading hikes and not signalling a higher terminal rate with their bigger than expected July hike. The bank also failed to ease spread fragmentation concerns with their new Transmission Protection Instrument (TPI) as the eligibility criteria means countries like Italy and Spain that will need the support the most might have a tough time qualifying. Combined with political concerns and additional inflation pressures, further spread widening looks likely for now. Right now, even though policy and spreads are important, the main story and driver for the EUR is the economic outlook. Recent growth data continues to surprise to the downside at a rapid pace and further stoking recession fears for the Eurozone. Even though the bias remains lower, a lot of negatives have been priced in from a tactical point of view so worth keeping that in mind. POSSIBLE BULLISH SURPRISES De-escalation or cease fire in Ukraine would open up a lot of EUR upside. Also keep Italian politics in mind where successful attempts to avoid a snap election could ease spread widening & support the EUR. Stagflation risks remains high and recent data has invigorated recession fears, but with lots of bad news priced any materially better-than-expected growth data could spark some relief. Spread fragmentation remains a concern, especially with Italian politics and the ECB’s failed attempt to reassure markets. Any TPI comments that convinces markets it can solve fragmentation issues should be supportive for the EUR. Energy supply is also in focus, which means watching gas flows from Russia. If Russia increases gas flows to more regular levels it should ease some supply concerns and see EUR upside. Rhine river concerns are one to watch, any good news on water levels and resumption of normal transport could be a bullish catalyst for the EUR. POSSIBLE BEARISH SURPRISES Any escalation in the Ukraine war that risks including NATO would be big negative risks. Also keep Italian politics in mind, where any failed attempts to avoid a snap election should add further pressure on the EUR. Recent data has invigorated recession fears. Even though lots of bad news is priced, any materially worse-than-expected growth data could spark further downside some relief. Spread fragmentation remains in focus, and if the ECB fails to act when we see big jolts higher in the BTP/ Bund spread, or if any TPI comment further concern markets about its effectiveness, it could trigger bearish reactions in the EUR. Energy supply is also in focus, which means watching gas flows from Russia. If Russia decreases gas flows even further, it should increase supply concerns and see EUR downside. Rhine river concerns are one to watch, any bad news on water levels and continued breakdown in transportation could be a bearish catalyst for the EUR. BIGGER PICTURE The fundamental outlook remains bearish with recent leading indicators pointing to a much faster economic slowdown than markets had previously expected. The current bearish drivers (geopolitics, stagflation, spread fragmentation, energy supply concerns) far outweigh the positives from a hawkish ECB. Recession risks have opened up a narrative change for the EUR which have seen markets adjust forecasts to reflect higher recession probabilities that continues to weigh on the EUR. With lots of bad news priced in there is risks in chasing the EUR lower, but the fundamental outlook remains bleak. CAD FUNDAMENTAL OUTLOOK: NEUTRAL BASELINE The CAD has enjoyed far more upside in the past few weeks than we anticipated. We’ve been cautious on the currency given Canada’s dependency on the US (>70% of exports) where the clear signs of a faster than expected slowdown and possible recession should deteriorate the growth outlook for Canada. Apart from that, the risks to the Canadian housing market can negatively impact consumer spending as interest rates rise higher at aggressive speed. Potentially damaging the wealth effect created by the rapid rise in house prices since covid. However, despite the risks to the economy and the outlook, markets still price in a very favourable growth environment for Canada, also supported by a big push higher in terms of trade due to the rise in commodity prices. Furthermore, despite clear warning signals, the BoC has chosen to ignore the negatives and has stayed surprisingly hawkish, hiking 1.0% in July. The market’s reaction after the 1.0% was quite telling though, with the CAD pushing lower afterwards. This suggests that those players that were long could’ve used the hike as a spot to take profit, or it could be the market pricing in a possible pause for the BoC in the months ahead because hiking so aggressive now means reaching a level to pause their cycle much faster. Either way, we remain cautious on the CAD and favour short-term catalysts that provide us with shorting opportunities. POSSIBLE BULLISH SURPRISES As an oil exporter, oil prices are important for CAD. Catalysts that see further upside in Oil (deteriorating supply outlook, ease in demand fears) could trigger bullish CAD reactions. The correlation has been hit and miss in recent weeks though. As a risk sensitive currency, and catalyst that causes big bouts of risk on sentiment could trigger bullish reactions in the CAD. Even though lots of tightening has been priced for the BoC, any overly hawkish comments from the BoC or big upside surprises in econ data could trigger short-term upside, but with a 100bsp providing no upside, risks are titled to the downside. POSSIBLE BEARISH SURPRISES As an oil exporter, oil prices are important for CAD. Any catalyst that triggers meaningful downside in oil (deteriorating demand outlook, ease in supply shortage, less supply constraints) could be a negative catalyst for the CAD as well. As a risk sensitive currency, and catalyst that causes big bouts of risk off sentiment could trigger bearish reactions in the CAD. With a lot of tightening priced into STIRs, and a 100bsp hike providing no support for the CAD, we think risks are skewed lower, and any big downside surprises in econ data could offer decent shorting opportunities for the CAD. BIGGER PICTURE The bigger picture outlook for the CAD remains neutral for now. Given the clear risks to the growth outlook due to the slowdown in the US, as well as rising risks to the consumer and the housing market, and potential negative impact for commodities like oil, we remain cautious on the currency (even though it’s moved much higher than we anticipated from the start of the year). With a lot of good news priced in, our preferred way of trading the CAD is lower on clear short-term negative catalysts.
by thunderpips
EURCAD to the 0.618? 🦐EURCAD on the 4h chart is trading below a resistance level . The price after the long bearish trend creates a DOUBLE BOTTOM and is now looking for a retracement ato the upside. How can i approach this scenario? I will wait for a potential break of the structure and in that case, i will look for a nice long order according to the Plncton'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.
Long
by InkyGrip
2