EURCAD Trading Plan - 18/Apr/2024Hello Traders,
Hope you all are doing good!!
I expect EURCAD to go Up after completing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Eurcad!
EURCAD Is Very Bullish! Long!
Here is our detailed technical review for EURCAD.
Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.464.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.469 level soon.
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 H4 | Bearish Drop Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.4715, which is an overlap resistance.
Our take profit will be at 1.4657, a pullback support level.
The stop loss will be placed at 1.4780, a swing-high resistance level.
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EURCAD Trading Plan - 15/Apr/2024Hello Traders,
Hope you all are doing good!!
I expect EURCAD to go Up after completing this correction.
I am biased for taking the recent low once again before giving a bigger correction upside.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
EURCAD,🟢Bullish scenario🟢Here is an EURCAD 15-minute chart, as you can see the price had a bullish reaction to the daily FVG, and also the price created lots of buy-side liquidity, so we expect the upward movement.
Now in the 15-minute chart, there is an untouched bullish order block formed below the sell side, liquidity so we expect the price to get support from this order block.
💡Wait for the update!
🗓️15/04/2024
🔎 DYOR
💌It is my honor to share your comments with me💌
EUR/CAD has a strong bearish momentum, could it fall further?Price is rising towards the resistance level which is an overlap resistance which aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.46671
Why we like it:
There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement.
Stop loss: 1.47033
Why we like it:
There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement
Take profit: 1.46192
Why we like it:
There is an overlap support level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Sell EURCAD ECB Interest RateThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours.
Key Points:
Sell Entry: Consider entering a short position (selling) below the broken support level of the channel, ideally around 1.4700. This offers an entry point close to the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones:
1.4656: This represents the first level of support within the channel.
1.4628: This is a further extension of the downside target, based on the height of the recent price movement before the breakout.
Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.4720. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you
EURCAD: Quick short opportunity + bonus for long term.EURCAD marginally turned bearish on its 1D technical outlook (RSI = 44.842, MACD = 0.001, ADX = 27.243) as it hit both the 1D MA50 and 1D MA200 today. That is dead neutral on a 15 month basis as the pair has been on a wide ranged price action since the start of 2023. Currently it sits exactly at the middle of this pattern on the 0.5 Fibonacci level. This gives us the opportunity for a quick short term sell on the HL trendline (TP = 1.45750). The HL trendline has always been crossed downwards these 1.5 years so if we see a crossing under the 0.618 Fibonacci, we will sell again and target the 0.786 Fib (TP = 1.43650).
See how our prior idea has worked out:
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EUR/CAD BUYERS WILL DOMINATE THE MARKET|LONG
Hello,Friends!
Previous week’s red candle means that for us the EUR/CAD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 1.467.
✅LIKE AND COMMENT MY IDEAS✅
EURCAD is approaching a significant levelHey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.46800 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.46800 support and resistance area.
Trade safe, Joe.
EURCAD longyesterday i had two amazing bull runs with USDCAD and GBPAUD taking my acount balance from
$102 to $469. This morning during london i entered two seperate positions which was EURCAD and EURJPY. Both trade were in profit until after london then we got a huge move down causing mme to close at a -$78 loss. The account balance is now $361 and ive entered EURCAD for another long position at support.
EURCAD What Next? SELL!
My dear subscribers,
This is my opinion on the EURCAD next move:
The instrument tests an important psychological level 1.4746
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 1.4680
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
———————————
WISH YOU ALL LUCK
FX Wars Episode 2 - Attack of the CAD clones!Round 2, Fight!
Result Round 1 see here:
After my first EURCAD short hit the target and the EURCAD made a nice retracement to the upper edge of the range, I basically enter the same trade again:
I split the trade into 2 positions:
I short the EURCAD once here directly and at the same time place a limit order at the current range high of 1.51000.
I place the take profit at 1.41000.
A tasty 1000 pips profit awaits me :)
I have already explained the reasons for this in detail in the 1st episode.
A summary:
Once upon a time, a long, long time ago, there was a confused rebellion by the European Central Bank (ECB).
It erred in almost all important matters and plunged the European economy into a severe crisis.
The beneficiaries are the renegade followers of the CAD empire, including myself. They are (once again) profiting from the sheer ignorance and short-sightedness of the ignorant ECB Council by shorting the EURCAD.
- As predicted back in July, inflation in the eurozone fell far faster than the ECB and the market had expected.
- At the same time, eurozone GDP was also far worse than expected (as I had predicted, see commentary of 6 September.
- The ECB is (once again) wrong on all counts and is reluctant to utter the forbidden words "interest rate cuts". The most important ECB members do not see the possibility of considering interest rate cuts until the end of 2024 at the earliest
-> This is a fallacy and the market will already be discussing interest rate cuts with the ECB at length in Q1
-> I see a high probability that we will be very close to the ECB's first rate cut as early as April 2024.
More will of course follow in 2024.
To be continued...
You will short the EUR ... and you will be happy - WEFThe ECB is (once again) on the wrong track:
It is stubbornly sticking to its hawkish view and justifying this with the fact that inflation in the euro area will remain stubbornly "sticky" and will probably not reach the target range of 2% until 2025.
The ECB is wrong (once again), as inflation will hover around 3% as early as December 2023 and reach the 2% target mark in the first half of 2024 at the latest (bullseye!).
The hawks of the ECB are thus adorning themselves with borrowed plumes and will soon (have to) reveal their dovish face.
However, since the strong negative disinflation effects will only take full effect from September onwards and core inflation will definitely remain stable in July and August, the ECB will not abandon its planned interest rate hike in July and the European Central Bank could (unfortunately) also be expected to implement a final rate hike in September.
However, these would not be necessary; on the contrary, they will weigh heavily on the already struggling eurozone economy and force the ECB to revise its GDP growth forecasts downwards soon.
-> Germany is a cautionary, recessionary example here!
-> All these points (stronger than expected falling inflation + ailing economy) will hurt the euro, which makes me see a promising short opportunity in the EURCAD.
I have given a detailed insight into the strength of the Canadian economy in my CADCHF trade idea.
Translated with www.DeepL.com (free version)
EUR/CAD: Sell Position
The price of the currency pair is expected to start a downtrend after reaching the resistance level of 1.47646.
The first target for the sell position is 1.46500 and the second target is 1.45000.
Consider your risk management before entering a trade.
Pay attention to economic news and events that may affect the EUR and CAD exchange rates
Potential bearish dropEUR/CAD is currently on a resistance level which is a pullback resistance level and could reverse from this level to our take profit
Entry: 1.47378
Why we like it:
There is a pullback resistance level
Stop loss: 1.47789
Why we like it:
There is a pullback resistance level
Take profit: 1.46630
Why we like it:
There is an overlap support level which aligns with the 50% Fibonacci retracement
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
EUR/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
EUR/CAD pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 1H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.468 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
✅LIKE AND COMMENT MY IDEAS✅
Potential bearish dropEUR/CAD is currently on a resistance level and could reverse from this level to our take profit
Entry: 1.47378
Why we like it:
There is a pullback resistance level
Stop loss: 1.47789
Why we like it:
There is a pullback resistance level
Take profit: 1.46630
Why we like it:
There is an overlap support level which aligns with the 38.2% Fibonacci retracement
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.