Eurcad!
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.
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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.
EURCAD→ Trade Analysis | BUY SetupHello Traders, here is the full analysis.
Price reversal going up, levels for BUY . EURCAD long
! Great BUY opportunity EURCAD
I still did my best and this is the most likely count for me at the moment.
Support the idea with like and follow my profile TO SEE MORE.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Patience is the If You Have Any Question, Feel Free To Ask 🤗
Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Potential bullish breakoutPrice has broken out of an overlap resistance level which aligns with the 61.8% Fibonacci retracement and could rise from this level to our take profit
Entry: 1.46630
Why we like it:
There is an overlap resistance level which aligns with the 61.8% Fibonacci retracement
Stop loss: 1.46258
Why we like it:
There is an overlap support level
Take profit: 1.47338
Why we like it:
There is a pullback resistance 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.
EURCAD, Continuation higher?EURCAD / 1D
Greetings, traders! Welcome back to another market analysis.
The EURCAD pair has been following a bullish trend, with the price indicating signs of strength. This breakout suggests the possibility of further upmovement. I intend to consider entering a position at lower prices following confirmation of the lower time frame during the next pull-back phase.
Trade safely,
Trader Leo
EURCAD Will Move Higher! Buy!
Here is our detailed technical review for EURCAD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 1.460.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.464 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
A sideways correction pattern scenario is likelyDear analysts and traders,
I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules.
As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it.
I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision.
I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily.
I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him.
Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me.
I hope my analysis will be useful to you in your business journey, and I wish you all the best.
Sincerely,
Mr. Nobody
Bullish scenario
EURCAD : Short Trade , 4hHello traders, we want to check the EURCAD chart. After a downward movement, the price has pulled back to the specified resistance level, which it has reacted to several times in the past. We expect this level to maintain the downward trend of the price and the price will fall to around 1.45800. Good luck.
EURCAD Potential DownsidesHey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.46900 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.46900 support and resistance area.
Trade safe, Joe.