Eurcad!
EURCAD Short-term buy signal.The EURCAD pair has been trading within a Channel Down for the past 15 months and right now is on a Bullish Leg towards its top. The 1D RSI is approaching the overbought barrier of 70.00 and we believe it will give a sell signal after it breaks above, just like November 21 2023 and July 14 2023.
Until then, we will stay bullish, targeting the top of the 15-month Channel Down at 1.49750.
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EURCAD Is Very Bullish! Buy!
Please, check our technical outlook for EURCAD.
Time Frame: 3h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.482.
The above observations make me that the market will inevitably achieve 1.485 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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EURCAD - 4hrs ( Buy Trade Target Range 150 PIP ) Pair Name : EUR/CAD
🗨Time Frame : 4hrs Chart / Close
➕Scale Type : Large Scale
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🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons
We seek to spread understanding rather than make money
✔️ Key Technical / Direction ( Long )
Type : Mid Term Swing
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Bullish Break
1.46900 Area
Reasons
- Major Turn level
- Channel Break
- Day + week High Break
- inner choch
- Fibo GOlden
- Visible Range Lvn
Bearish Reversal
1.49150 Area
Reasons
- Major Turn level
- Pattern Upper Band
- Quarters Area
- Choch Zone
- Fixed range hvn
- Fibo Golden
EURCAD: Bearish Continuation
The strict beauty of the chart is a reflection of the fierce eternal battle between the bulls and bears and right now I can clearly see that the bears are taking over so we will bend to the will of the crowd and sell too.
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EURCAD: One More Bullish Confirmation 🇪🇺🇨🇦
I have already shared a very bullish forecast for EURCAD,
after a breakout of a key daily resistance.
Today we see one more intraday bullish confirmation
- a bullish breakout of the resistance line of a symmetrical triangle on a 4H time frame.
I believe that the market will reach at least 1.485 level soon.
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EUR/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
We are going short on the EUR/CAD with the target of 1.478 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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EURCAD Under Pressure! SELL!
My dear followers,
This is my opinion on the EURCAD next move:
The asset is approaching an important pivot point 1.4778
Bias - Bearish
Safe Stop Loss - 1.4804
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 1.4737
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
EURCAD Is Very Bullish! Buy!
Please, check our technical outlook for EURCAD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.479.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.482 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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EURCAD | Short D1 | Market Exec |Oil Over EuroTechnical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 time-frame. D1 is also entering Overbought Conditions.
- Price action is at last month's Resistance Trendline
- Price action is in a Consolidation zone
- Targeting the 38.2% Fibo retracement
Fundamental Confluences for Trade:
- ECB plans to cut interest rate next month would weaken the EUR
- Oil price should sustain with all the ongoing geopolitical risks; supporting CAD economy
Suggested Trade:
Entry @ Area of Interest 1.4760 - 1.4790
SL @ 1.4820
TP 1 @ 1.4709 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 1.4664
Risk-to-Reward @ Approx. 2.34 (Depending on Entry Level)
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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
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Two analytical ideas related to DXYEsteemed analysts and traders,
I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own rules.
As a supporter of the Elliott Wave Principle, I consider this methodology an invaluable tool for market analysis. After three years of personal experience, I have developed my approach by combining this principle with meticulous consideration of different market scenarios. I strive to avoid market surprises by maintaining a range of market prospects, which enables me to recognize the market structure forming with 100% accuracy.
I am pleased to share my analysis with you, with the caveat that I do not provide buy or sell signals. My perspective on idea analysis is entirely impartial, and if my analysis meets your standards, it may serve as a guide to making an informed decision.
For your reference and comparison, I have attached my previous analysis of the same market. All the details of my analysis are clearly labeled for ease of comprehension. Nonetheless, familiarity with the Elliott Wave Principle theory would facilitate an understanding of the analytical idea.
My study of the Elliott Wave Principle took nearly three years, during which my understanding and experience with this invaluable tool have grown. My progress thus far is a testament to the legacy of Ralph Nelson Eliot, whose genius has provided the foundation for my achievements. May he rest in peace.
I express my gratitude for your continued support and kindness, and welcome your comments and critiques.
May my analysis be a valuable asset to your business journey, and I remain sincerely yours,
Mr. Nobody
Bearish market scenario
Bullish scenario
Will EURCAD pop higher?EURCAD EASYMARKETS:EURCAD
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EURCAD The Target Is DOWN! SELL!
My dear friends,
EURCAD looks like it will make a good move, and here are the details:
The market is trading on 1.4767 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 1.4715
Recommended Stop Loss - 1.4800
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK