Heading into 61.8% Fibonacci resistance?EUR/CAD is rising towards the resistance level which is a pullback resistance that is slightly above the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.50030
Why we like it:
There is a pullback resistance that is slightly above the 61.8% Fibonacci retracement.
Stop loss: 1.50776
Why we like it:
There is a pullback resistance level.
Take profit: 1.49549
Why we like it:
There is a pullback support level.
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Eurcad!
EURCAD: Near the bottom of its Channel Down. Bullish.EURCAD is bearish on its 1D technical outlook (RSI = 42.446, MACD = -0.001, ADX = 21.257) as it is trading on the 3rd straight red 1D candle and is approaching the bottom of the 10 week Channel Down. The are more probabilities now to see a bullish reversal aimed at the top, so we turn bullish (TP = 1.51.300).
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EURCAD SELL TF D1 TP = 1.4616On the D1 chart the trend started on Aug. 22. (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 1.4616
This level, which I have outlined above, is certainly not a “finish” level. But it is the level that has the “highest percentage of hits on target.”
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelievelnTrading
EUR/CAD BEST PLACE TO BUY FROM|LONG
Hello, Friends!
EUR/CAD pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 6H timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 1.506 area.
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Bullish bounce off major pullback support?EUR/CAD is falling towards the support level which is a pullback support that aligns with the 88% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.48952
Why we like it:
There is a pullback support level that aligns with the 88% Fibonacci retracement.
Stop loss: 1.48500
Why we like it:
There is a support level at the 88% Fibonacci retracement.
Take profit: 1.49680
Why we like it:
There is an overlap resistance level.
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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.
The EUR/CAD 1-hour chart shows a clear bullish trend The EUR/CAD 1-hour chart shows a clear bullish trend within an upward-sloping channel, with prices bouncing off support near the 1.4900 level. The pair recently broke above the channel's midline and is heading towards the upper boundary around 1.5100. This suggests the potential for further upside in the near term, with the current price action maintaining support at higher lows.
Key points to watch:
- Support: 1.4900 (bottom of the channel).
- Resistance: 1.5100 (top of the channel).
- A breakout above the upper boundary could signal strong bullish momentum, while a rejection could lead to a retracement back to the midline or lower channel support.
This setup offers a potential trading opportunity depending on confirmation of the next move. Monitor price action and volume to confirm the breakout or reversal.
The EUR/CAD Daily Chart shows trading within a rising channelThe EUR/CAD Daily Chart shows trading within a rising channel structure since early 2023, with the price respecting the upper and lower boundaries of this trend. Currently, the price is bouncing from a key support zone near 1.49, which aligns with the lower boundary of the rising channel.
- Key resistance is around the 1.512 area, where the price has repeatedly faced selling pressure.
- A breakout above this resistance could push EUR/CAD towards the channel's upper limit near 1.53.
- However, if bearish momentum continues, the price may retest the lower channel support around 1.48-1.475.
This technical setup suggests a balanced risk-to-reward ratio, with traders awaiting either a breakout or a rejection at key levels. It's a good time to monitor this pair for potential directional confirmation.
EURCAD LONGEURCAD has been on a buy trend on D1 TF, its safe to say EURCAD is trying to liquidate the previous high. Right now price is around an AOI which is very strong and i expect a pullback up to 1.50571 which is my planned entry level as well and stop loss at around 1.50440, and i aim to take profit at 1.51463.. Lets see how it goes..
EURCAD Trading Opportunity! SELL!
My dear friends,
My technical analysis for EURCAD is below:
The market is trading on 1.5044 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.4975
Recommended Stop Loss - 1.5078
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
EURCAD is in a Bullish PatternHello Traders
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EUR/CAD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
EUR/CAD is making a bullish rebound on the 4H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 1.497 level.
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#EURCAD 1DAY#EURCAD 1-Day Forecast Sell based on a Channel Pattern
On the daily chart for #EURCAD, the price is moving within a clearly defined **descending or horizontal channel**, signaling a potential **sell opportunity**. The price has been respecting both support and resistance levels, forming a continuous trend inside the channel, with a bearish bias dominating the market.
Key Insights:
1. Channel Pattern:
- The price is fluctuating within a descending or sideways channel, where it repeatedly bounces between resistance and support levels.
- The upper resistance line of the channel is holding firm, acting as a ceiling for the price, while the lower support line limits declines.
2. Sell Scenario:
- With the price near the upper resistance of the channel, this is an ideal point for a sell entry, expecting the price to reverse and move toward the lower support.
- Confirmation for selling can come from bearish price action (e.g., bearish candlesticks or rejection at resistance), indicating that sellers are regaining control.
3. Trend Continuation:
- The overall market bias is bearish, as evidenced by the lower highs and lower lows within the channel. As long as the channel holds, the price is likely to continue this pattern, making selling on rallies an optimal strategy.
4. Volume Confirmation: Monitor volume for confirmation. A rise in selling volume as the price nears resistance would strengthen the bearish outlook, while low volume near the support could suggest a lack of momentum for further declines.
5. Stop-Loss Considerations:
- For a sell position, place a stop-loss slightly above the resistance level of the channel, as a breakout above resistance would invalidate the sell setup and suggest a potential reversal to the upside.
Trading Strategy:
Entry: Enter sell positions near the upper resistance level of the channel, anticipating the price to move downward toward the lower support.
Take Profit: Set take-profit targets near the lower support zone of the channel, where the price may bounce or consolidate.
Stop Loss: Place a stop loss above the channel's resistance line to manage risk in case of an unexpected breakout.
This analysis indicates that #EURCAD is currently in a **sell position** on the 1-day timeframe, especially as it nears the resistance of the descending or horizontal channel. Traders should aim for downward movement while managing risk carefully with proper stop-loss levels.
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EURCAD Technical Analysis and Trade Idea👀 👉 EURCAD is showing a bullish trend on the higher time frames, and I'm watching for a potential buy setup, depending on specific conditions discussed in the video. In the video, we break down the essential price action signals to monitor and how to capitalize on the next opportunity. Disclaimer: This analysis is for informational purposes only and is not intended as financial advice. 📊✅
Potential Long on ECIt is Monday and the market is getting set for the week ahead,
Looking at EC right now for a potential long position.
If that FVG is respected , showing bullish engulfing on the 15 or 30min TF. The next candle will let us know. Patience
After confirmation I will be looking for shorts.
Entry on 15 or 30min TF
No rush , let see what happens
#EURCAD 1DAYThe EUR/CAD pair on the 1-day chart is approaching a key support level that could potentially signal two scenarios depending on price action. Here's a description for both scenarios:
Bullish Scenario (Buy Support Bounce):
Pattern & Support: The EUR/CAD pair has been trading within a range, and the price is nearing a strong support level that has been tested multiple times in the past. This level could serve as a potential bounce zone if buying pressure reemerges.
Forecast: If the price shows signs of rejection at this support (such as bullish candlestick patterns like a pin bar, engulfing pattern, or increased buying volume), it suggests a reversal and potential upside movement. Traders may look to enter long positions with the expectation of a bounce from this support level. A target could be set at recent resistance levels or Fibonacci retracement points.
Bearish Scenario (Sell Support Breakdown):
Pattern & Support: If the price fails to hold above the support level and breaks below it with strong momentum, this could signal a bearish continuation.
Forecast:A break and close below the support level, especially with increased selling volume, could trigger a downside move. In this case, traders might look for short opportunities, anticipating further declines. The next potential targets would be lower support zones or previous swing lows.
In either scenario, traders should monitor volume, momentum indicators (like RSI or MACD), and price action closely to confirm their trade direction.