EURCAD: Important Decision Ahead 🇪🇺🇨🇦
EURCAD remains very weak for more than 2 weeks:
the pair is trading in a narrow horizontal range on a daily.
Depending on the reaction of the price to the boundaries of the range,
I see 2 potential scenarios.
Bullish:
If the price breaks and closes above the upper boundary of the range - 1.4653 level,
I will expect a bullish movement to 1.4725.
Bearish
If the price violates the support of the range - 1.4486 and closes below that,
a bearish continuation will be anticipated to 1.441.
Wait for a breakout, that will show us the future direction of the market.
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Eurcad!
EURCAD Lowertrying EURCAD lower here.
seem to be forming a flag pattern which i think could break to the downside.
narrative wise the EUR is not doing great at the moment, data is coming in worse than expected and inflation seems to be dropping. German HICP is coming out later today and people are expecting it to be low as well. The CAD narrative is doing fine, people are expecting a relatively hawkish BoC and the CAD economy is doing well.
rate differentials are pushing lower which the pair should catch up with if it continues.
targeting the double bottom from earlier in the year.
positioning for the EUR has been very high all year so there is room for a nice move lower.
Not trading/investing advise, feedback welcome!
EUR/CAD: Riding the Ascending Channel with Short Setup PotentialThe EUR/CAD currency pair remains within an upward trend, as observed in recent trading sessions. After reaching the support area near 1.45200, the price initiated a sequence of higher highs and higher lows within an ascending channel. Notably, the price has repeatedly tested the 50% Fibonacci Resistance level, and following the latest retest and subsequent rejection, it is anticipated that the price may continue its descent towards the lower region of the chart to retest the aforementioned support area, potentially surpassing it.
Moreover, there is the formation of an AB=CD pattern, indicating a potential trading opportunity. Based on our analysis, we propose a new short setup with the target of reaching the 1.127 Fibonacci extension of the AB=CD pattern, estimated to be around the 1.4500 area. This suggests a favorable opportunity to capitalize on the projected price movement and potentially profit from the anticipated downward momentum.
EURCAD Downside PotentialHey Traders! 👋
For Day 19/100 of our challenge, we will look at EURCAD downside potential this week.
- Recently rejected 1.0465 resistance
- Now heading towards 1.45 strong support
- When 1.45 breaks, we can expect 1.444 to be met
This is based on seasonality and retail positioning. Check them out for yourselves 👍
Have a great start to the week. Hope you enjoyed your holiday 🥂
EURCAD Daily Short | Technical Analysis TradingEURCAD daily short
Shortstop @ 1.45639
TP #1 @ 1.44627 66.67% wr
TP #2 @ 1.43041 39.22% wr
SL @ swing high 1.51122 17.65% hr
All trades on this pair, and on this timeframe are produced by an algorithm. Winrate is based on Winnings trades on this pair, on this timeframe, from this algorithm.
Find more trades like this on my profile for consistent wins.
EURCAD Will Go Lower! Short!
Here is our detailed technical review for EURCAD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.459.
Considering the today's price action, probabilities will be high to see a movement to 1.451.
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 lookout for a bullish reversal!!EURCAD weekly chart shows that price tested the 1.4580 support level and was unable to break it thereby closing above the 1.4580 level. Likewise an undecision candle was printed after the past week. So expect a bullish reversal from:
1.45525 (fib 0.236. Retr level) up to 1.4728 (fib 1.618 ext level)
Buy @ 1.4555
1st Tp - 1.4626 (70 pips)
2nd Tp - 1.4725 (170 pips)
Disclaimer!!!
Not a financial advice
EUR-CAD Bearish Bias! Sell!
Hello,Traders!
EUR-CAD is already making
A bearish pullback from the
Horizontal resistance of 1.464
And as we are bearish biased
Due to a downtrend of the pair
I think that we will see
A further move down
Sell!
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Check out other forecasts below too!
EUR/CAD BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
The BB upper band is nearby so EUR-CAD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.451.
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EURCAD LONGPrice just took support from this year's AVWAP and pushed back up.
PD buyers pushed price up.
Sentiment line in perfect buy zone.
entry if and when price clears current POC zone and opens above it with good MACD.
1:1
note - not tagged in the position yet.
will add note once in the position.
AUDCAD I Watch for this 🎯Welcome back! Let me know your thoughts in the comments!
** AUDCAD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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EURCAD: My Plan to Sell 🇪🇺🇨🇦
EURCAD is trading on a key horizontal resistance.
To short the pair with a confirmation, watch a descending triangle formation on 1H time frame.
If the price breaks its neckline, that will give us a trigger to short.
To confirm the violation, we will need an hourly candle close below 1.4607.
A bearish continuation will be expected to 1.4579 / 1.4555
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EURCAD Buy TF H4. TP = 1.4701On the 4-hour chart, the trend started on May 18 (linear regression channel).
There is a high probability of profit. A possible take profit level is 1.4701
But do not forget about the SL = 1.4511
Using a trailing stop is also a good idea!
Good luck!
Regards, WeBelieveInTrading
EURCAD I It will land at support Welcome back! Let me know your thoughts in the comments!
** EURCAD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
EUR/CAD BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
Bearish trend on EUR/CAD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 1.458.
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