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Eurcad!

Could EUR/CAD drop from here?The price has reacted off the pivot and could potentially fall to the 1st support. Pivot: 1.51181 1st Support: 1.50414 1st Resistance: 1.52059 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bearish momentum to extend?EUR/CAD is rising towards the pivot and could reverse to the 50% Fibonacci support. Pivot: 1.50239 1st Support: 1.48964 1st Resistance: 1.51188 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
EURCAD - 4hrs ( Sell Trade Target Range 200 PIP ) Pair Name : EUR/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t 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 Break 1.5000 Area Reasons - Major Turn level - Visible range HVN - Counter Trend Line - Quarter High Area - Fixed Range Value - Fibo Golden Zone Bullish Reversal 1.47500 Area Reasons - Major Turn level - Visible Range LVN - Pattern Target - Choch Zone - Quarter's Area
Short
by GoldenEngine
2
Bullish rise?EUR/CAD is falling towards the pivot which has been identified as a pullback support and could rise to the 1st resistance level which is also a pullback resistance. Pivot: 1.50322 1st Support: 1.48979 1st Resistance: 1.52196 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
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 importan+t 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 Break 1.50000 Area Reasons - Major Turn level / M - Channel Break - Fibo Ext Golden - Fixed Range Value - Fibo Time Zone Bullish Reversal 1.47500 Area Reasons - Major Turn level - Visible Range LVN - Pattern Target - Choch Zone - Quarter's Area
Short
by GoldenEngine
EURCAD I Correction and potential continuationWelcome 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!Welcome back! Let me know your thoughts in the comments!
Long
by BKTradingAcademy
EUR/CAD mini upward wave to 1.51(07/31/2024)Bears are controlling CAD, in fact, there is no reason to be bullish on CAD neither Fundamental nor technical! EUR/CAD is on a strong bullish bias. CPI data was positive and made EUR stronger. We are expecting the price to reach 1.51 where the most liquidity has been placed eventually. Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by fortunamarkets
EURCAD Forex Pair Analysis: Market Trends and Key Levels✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the EURCAD pair in the Forex market. 🗂 About the Pair: The EURCAD pair represents the exchange rate between the Euro and the Canadian Dollar. It's influenced by factors such as European and Canadian economic data, central bank policies, and global market sentiment. 📊 Weekly Timeframe Analysis In this timeframe, EURCAD has shown significant range-bound movement. The pair is currently testing a key resistance level around 1.50153, with major support found at 1.29621. The RSI indicator shows a reading of 62.21, suggesting the market is nearing overbought conditions but not at extreme levels yet. 📈 If EURCAD breaks above 1.50153, we could see further bullish momentum, potentially reaching towards the next resistance level at 1.57769. 📉 Conversely, if the price fails to break through and reverses, a pullback towards the support level of 1.43037 could indicate a bearish trend continuation. 📊 Daily Timeframe Analysis On the daily chart, EURCAD has been trending upwards since early 2023, with the current price action testing the resistance around 1.50153. The RSI at 63.44 reflects bullish momentum but is close to overbought territory. 🧲 A breakout above 1.50153 could signal a continuation of the uptrend, targeting higher levels. 📉 However, a reversal or stabilization below 1.49002 may indicate a weakening of the bullish trend and potential for a correction. 📊 4-Hour Timeframe Analysis In the 4-hour timeframe, EURCAD recently experienced a strong bullish impulse, followed by a consolidation phase. The pair is currently testing resistance at 1.50182. 📈 For long positions, a breakout above 1.50182 could provide an entry point, with targets at 1.51000 and beyond. 📉 For short positions, key support levels to watch are 1.49188 and 1.48730, with a potential for deeper retracement towards 1.47733. 📊 RSI Oscillator The RSI across the timeframes is currently indicating a mixed outlook: Weekly: 62.21, close to overbought Daily: 63.44, nearing overbought 4-Hour: 46.58, neutral with room for both upside and downside A clear break of the RSI levels, combined with price action confirmation, could help identify potential trade entries. 🧲 Conclusion Given the current bullish momentum in the weekly and daily timeframes, a short-term long position could be considered if EURCAD breaks above 1.50153. However, caution is warranted as the pair approaches resistance, and the RSI suggests potential overbought conditions. A watchful eye on support levels and volume trends will be crucial for assessing the strength of any moves. ⚠️ Please note that this is not financial advice. I'm simply providing this analysis for educational purposes. Always do your own research and consider your trading strategy and risk management plan. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a pair you'd like me to analyze next.
by itsparham96