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EURCAD

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
From a bullish order flowThe daily rejection block has been successfully respected because we have and bearish engulfing candlestick, this is to confirm a bearish market. On the 4h timeframe we have a break of structure followed by a sweep with let price to clear the previous swing low. We now have a shift, anticipating a flip to level 1.50100 for a bearish entry, in this trade we are risking 20 pips in order to gain 100 pips because we are targeting the significant zone at 1.49100…
by tokelohomi
EURCAD Buyers In Panic! SELL! My dear subscribers, EURCAD looks like it will make a good move, and here are the details: The market is trading on 1.4943 pivot level. Bias - Bearish My Stop Loss - 1.5018 Technical Indicators: Both Super Trend & Pivot HL indicate a highly probableBearish continuation. Target - 1.4844 About Used Indicators: The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURCAD long Opportunity Uptrend : The EUR/CAD pair is in a strong uptrend, characterized by higher highs and higher lows. Support and Resistance Levels : The pair has broken a key resistance level around 1.49561, which now acts as support. The next significant resistance is at 1.50450. Moving Average : The current price is above the 200-period SMA, indicating long-term bullish momentum. The position aims to capitalize on the continuation of the uptrend following the break of resistance at 1.49561. The stop loss is placed below the recent support to minimize risk in case of a trend reversal. The take profit is set at 1.50450, aligned with the next potential resistance zone.
Long
by Metow1sw
EURCAD Can Fall Fall Further DownThe last standard W pattern had failed. EURCAD completed an extended W pattern. It showed some rejection from the top. We have a support level in there. If this support levels is broken and confirmed with a bearish signal, we can see a good short opportunity. Targets are on the screen: If you found this interesting please consider supporting this analysis by liking, commenting, and sharing with friends, colleagues, traders, and trading communities. Thanks👍🙂
Short
by vikinsa
Sell EUR/CAD Channel BreakoutThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.4932, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.4880 2nd Support – 1.4853 Stop-Loss: To manage risk, place a stop-loss order above 1.4965. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
2
EURCAD Is Bearish! Sell! Take a look at our analysis for EURCAD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.491. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.488 level. 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
1
EUR/CAD has a strong bullish momentum, could it rise further?EUR/CAD is falling towards the support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.48241 Why we like it: There is a pullback support level which lines up with the 38.2% Fibonacci retracement. Stop loss: 1.47847 Why we like it: There is a pullback support level which align with the 61.8% Fibonacci retracement. Take profit: 1.49069 Why we like it: There is a pullback resistance level. 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.
Long
by VantageMarkets