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Eurcad!

EURCAD Will Go Lower! Short! Here is our detailed technical review for EURCAD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.444. Considering the today's price action, probabilities will be high to see a movement to 1.428. 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. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
4
EURCAD Some downside left before the long term buy entryEURCAD is on the bearish leg of the Ascending Triangle pattern that targets the S2 Zone (1.42400 - 1.42800). Obviously the 1D technicals are bearish (RSI = 36.214, MACD = -0.006, ADX = 52.689) and our bearish target is the top of S1 at 1.43850. Regardless of S1 or S2, we have timed our long term buy entry when the 1D RSI turns oversold at 30.000. As you see the RSI has been inside a Channel Down ever since the Ascending Triangle started. Our short term targets once the buy gets activated will be the R1 and R2 (TP = 1.46480 and 1.47485 respectively). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
11
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. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
14
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!
Short
by Spinning_
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.
Short
by FOREXN1
30
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. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1