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Eurcadanalysis

EURCAD to see some upside For more than a week, EURCAD has been moving in a descending channel and respecting the trendiness very well. EC had broken some very significant resistance around 1.55336 and 1.55432 on December 17th that it looks like it is revisiting as this market steadily moves to the downside. On the daily, EURCAD has been moving in an ascending channel and is about to reach one of the trend lines. As it approaches this part of the daily ascending channel, the bottom of the descending channel, and a zone that was previously resistance and now may be respected as new support, I believe there will be great buying pressure here and the market will be pushed up. Signs of the Canadian dollar weakening should also push this pair up as the Euro will get stronger against the Canadian dollar. I'll be looking to go long around 1.55432 and will target right before the previous high.
Long
by StealPipsSal
EURCAD Moving Towards The Support Level...We managed to see price level retesting the 23.6% fib level and now showing signs of BEARISH continuation. I will be expecting EURCAD to move towards the support level where 38.2% fib lies. Further confirmation will be determined after this movement. As of now, this is a good short term trade opportunity. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
2
EURCAD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
EURCAD Technical Analysis - Currently we can see a downward channel formation on EURCAD - 1.5450-1.5400 is a support area and 1.5700 is a resistance also the upper edge of the channel. - The price is above 200 EMA on Daily TF. - A sustained move over 1.5400 will indicate the presence of buyers. If this move creates enough upside momentum then i'll look for the rally which can possibly extend to 1.5700 - Meanwhile, A daily close below 1.5400 can take the price to 1.5050
Long
by UnknownUnicorn3749633
2