EURCAD FOR SHORT SELL EURCAD
STOP : 1.57958
TAKE PROFIT : 1.55729
IF YOU using trailing stop use 810
have nice day my friends
cheeer
thomas
Eurcadanalysis
SHORT Don't really trade the Christmas break, but this year with the lockdown has got me stuck at home looking to take this cheeky short.
EURCAD Short - Clear support and resistance
- Historical resistance which price has consistently rejected
- 1:4 RR
eurcad for the next weekas you can see the price touch the strong resistant
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400 pips short setupPrice touched a descending triangle on daily chart & broke out of the ascending trendline on 4H Chart, price is currently at minor resistance zone.
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.
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GWBFX
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
EURCAD: BULLISH movement is over...Waiting for the BEARISH SignsIf we look at the fib line I drawn, we can see that BULLISH movement hitting 1.618 fib level have already occurred. Currently, price level is below 1.0 fib level and we start to see potential rejection occurring for further BEARISH movement. If we look at ichi cloud, we can see that price is moving towards the cloud which could give EURCAD a BEARISH rejection given the case that we are currently within our trend line. This movement could also be a retest after the fakeout as we able to see. I will be expecting BEARISH movement as of now till the support level or 38.2 fib level.
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EUR/CAD Channel trade ..EUR / CAD is in the so-called channel, so even with this pair, the thing is quite clear.
EURCAD Formed Head & Shoulder For Short Trade.EURCAD is consolidating in a fixed range. Now, we may see a breakout from the consolidation pattern, as it formed a head and shoulder pattern (as shown in the chart). According to chart pattern analysis, we might see a downside in EURCAD. One can initiate short trade with risk management and stop loss.
Thank You.
EURCAD accumulating, LONG on buy and retest#EURCAD (1H):
As expected, the current region saw the price accumulating in a small range, right above the daily descending wedge top. A break and retest to the upside is what i'm looking for. A further confluence would be the previous H&S retest, which hasn't occurred yet.
EURCADEURCAD is on an up trend for the week where it closed below the Fib 0.5 level and we expect a correction to the Fib 618 area and from there we will see if the price will continue falling to the level Fib 786 or to go up again.
Forex Forecasts: Buying opportunity on the EURCADThe EURO / CANADIAN DOLLAR pair is moving inside the falling wedge pattern in the long term and the pair is near the upper side of the pattern, while on a 4-hour frame the pair was able to form a smaller descending wedge pattern whose upper side overlaps with the upper side of the larger wedge.
Thus, the breakout of the two models and the pivot point 1.5563 is a strong opportunity to buy the pair with the first target 1.5563 and the second target 1.5757.
May Still Remain BearishLooks like we're staying bearish until we can break the trendline above. Not sure how much higher we'll get since it looks like we've met the lower high last week or close to it. So I am going with the flow with this pair.
BULL TPS:
• 1.55870
• 1.56543
• 1.57307
BEAR TPS:
• 1.55227
• 1.54812
• 1.53894
