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EUR/CAD Gears Up for a Bullish Resurgence: Technical Confluence EUR/CAD Gears Up for a Bullish Resurgence: Technical Confluence Points to a Promising Long Setup In a striking turn of events, the EUR/CAD currency pair has staged an impressive rebound, finding substantial support at the critical level of 1.46500. This resurgence has been accompanied by a robust candle formation, a convergence of Fibonacci retracement levels, and a resolute commitment to the overarching uptrend. As the stars align in favor of the Euro (EUR), market participants are poised to seize the opportunity for a new long setup, riding the potential wave of a renewed bullish impulse. The pivotal role of the 1.46500 support level cannot be overstated. Serving as a steadfast foundation for the recent price action, this level has proven its mettle in halting the pair's descent and providing a springboard for its upward rebound. Such a rebound, when viewed in conjunction with the 38.2% and 50% Fibonacci retracement area, underscores the confluence of technical factors propelling the EUR/CAD's resurgence. TurnAround Point: 1.4686 Our preference The upside prevails as long as 1.4686 is support.
Long
by FOREXN1
3
EURCAD - 4hrs ( Sell Trade Target Range 150 PIP ) Pair Name : EUR/CAD 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 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 ( Short ) Type : Mid Term Swing —————————— Bearish Retest 1.47500 Area Reasons - Major Turn level / W - inner Choch Area - visible range hvn - Fixed Range Lvn Bullish Reversal 1.45500 Area Reasons - major Turn level - Visible range lvn - Pattern Target - D choch Area
Short
by GoldenEngine
1
EURCAD TRADE IDEA Long (24/07/2023)The price has already broke structure on the way up, after reacting well from the POI, allowing for the break to occur. For this trade to work out, please wait for the price to tap into the order block - if it doesn't happen, let the trade go. With an RR of 3.41, this is a trade worth taking - even though I'd prefer more. NOTE: This is not financial advice, please do your own research and be aware that any risks are being taken solely by you, the individual.
Long
by saintprincevvs
EURCAD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare
EURCAD HUGE Potential BEARISH Reversal! - READ ALLWelcome back, fellow traders, to another exciting analysis session! Today, we're going to dive deep into the intriguing world of the EUR/CAD pair and explore the confluences and indicators that are painting a compelling bearish picture on multiple timeframes. Confluence Across Multiple Timeframes As seasoned traders, we know that the key to successful analysis lies in identifying confluences across various timeframes. The EUR/CAD pair has certainly caught our attention, as it exhibits a remarkable alignment of signals across the monthly, weekly, daily, 4-hour, and 1-hour timeframes. This convergence alone suggests that significant market movements could be on the horizon. Breaking the Resistance Barrier One undeniable factor that has our attention is the repeated breaking of bearish resistance levels. Our meticulous analysis has revealed an impressive 10 instances where the EUR/CAD pair has pierced through these resistance barriers. This persistent behavior signals a potential shift in sentiment and an eagerness among sellers to push the pair into lower territories. Support Turned Constriction The concept of consolidation is a fascinating one, especially when we observe that the EUR/CAD pair has broken through previous support levels on not just one or two occasions, but five distinct instances. Such behavior raises eyebrows and prompts us to consider whether this frequent breach of support zones could indeed be a precursor to a larger bearish move. Candlestick Patterns and Their Insights Candlestick patterns are the language of the market, and right now, they're whispering an intriguing narrative. The presence of candlestick patterns that align with a potential bearish trend cannot be overlooked. These visual cues, scattered across the charts, are like breadcrumbs leading us toward the potential future movement of the pair. The Bearish Trendline Ah, the trendline – a trader's trusty companion. Our meticulous chart scrutiny has unveiled a bearish trendline, offering an additional layer of evidence to support our hypothesis. The consistent adherence to this downward-slanting trendline, combined with other confluences, serves as a powerful reminder that the market sentiment might indeed be tilting towards a bearish outlook. Support Tests and Higher Highs It's important to acknowledge that the EUR/CAD pair hasn't shied away from flirting with support levels multiple times. Even in the face of higher highs, the repeated touches on these support zones can't be dismissed. However, the strength of our analysis comes from the holistic view, taking into account the broader context and various indicators. The Holistic Bearish Scenario Drawing all these threads together, a comprehensive picture emerges. The EUR/CAD pair is displaying an array of bearish indicators across multiple dimensions – from the confluences on different timeframes to the persistent breach of bearish resistance and support levels, complemented by the whispers of the candlestick patterns and the guiding trendline. While the market is always full of surprises, our analysis points undeniably towards a possible bearish trajectory. In conclusion, fellow traders, the confluence of evidence we've uncovered cannot be ignored. As always, it's crucial to approach the market with a blend of caution and excitement. While no analysis can predict the future with absolute certainty, the amalgamation of signals we've discussed today should certainly give us pause and prompt us to tread carefully in the EUR/CAD landscape. Happy trading and may the markets be ever in your favor! FX:EURCAD OANDA:EURCAD FOREXCOM:EURCAD PEPPERSTONE:EURCAD EIGHTCAP:EURCAD SAXO:EURCAD CAPITALCOM:EURCAD BLACKBULL:EURCAD ACTIVTRADES:EURCAD EASYMARKETS:EURCAD VANTAGE:EURCAD
Short
by harfi7520