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Eurcadanalysis

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. 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
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.
Long
by TradingFleet
EURCAD | perspective for the new weekSince a successful Breakout on the 12th of Nov. 2020, Price found Demand zone @ CAD1.54800 eight good times before finally finding the momentum to Break out off Bearish trendline @ CAD1.55100 towards the end of the trading session on Friday to make a Bullish statement. Tendency: Uptrend (Bullish ) Structure: Trendline | Supply & Demand Observation: i. Price continues to respect Bullish Trendline on the Weekly chart to emphasize the prevailing direction of price. ii. Price rejects CAD1.54800 level eight times since on the 16th of Nov. 2020 to finally Breakout off Key level @ CAD1.55200 which also coincides with Breakout off the Bearish trendline. iii. Key Level shall remain a yardstick for buying option for me in the coming week. Trading plan: BUY confirmation with a minimum potential profit of 120 pips. Risk/Reward: 1:5 Potential Duration: 1 to 3 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry