EURCAD LONG EURCAD bounced from the MAJOR lower support level on the H4 and WEEKLY time frame, . we expecting the pair to retest the key levels listed on the chart.
We taking this trade based on technical analysis and price action.
(1) DO NOT ENTER ANY TRADE BEFORE THE ENTRY LEVEL
(2) USE YOUR STOP LOSS
(3) DO NOT HOLD A LOSS FOR MORE THAN 2 DAYS
Please use proper risk management depending on your account size, Use lot sizes based on these calculations.
Here is a break down of your pip value in ZAR and Dollars
0, 01 = R1,43 / $0,10c
0. 05 = R 7,15 / $ 0.50
0.10 = R 14,3 / $1.00
1 Lot size = R 146,26
How to calculate Margin = (Lot Size * Contract Size)/Leverage, Lets say your broker gives you 1:500, and you open 0,2 size, How much are you exposing ? calculations : (0.2 * 10 000) / 500 = $4 (R58) also (1 Lot * 100 000) / 500 = $200 (R2 960)
So, each time I open (1 Lot size, am exposing R2960 (Down payment)
Remember, These are long term trades, It is advisable to have enough margin to handle the fluctuation of the markets.
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Eurcadforcast
DeGRAM | EURCAD downtrendEURCAD has made lower lows. It is clearly in a downtrend.
Recently, the price retraced to previous support, which became a resistance.
An ideal entry would be to short after a lower low and a lower close candle.
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EURCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
DeGRAM | EURCAD beautiful channelEURCAD is channeling downwards over 2 months now.
Notice every time when price makes shallow extensions down or up price tends return to previous levels.
We expected price to test higher levels.
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EURCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURCAD LONG - Buy Entry - H4 ChartEURCAD LONG - Buy Entry - H4 Chart
Buy @ Market
Symbol: EURCAD
Timeframe: H4
Type: BUY
Entry Price: Buy @ Market
Major Resistance @ 1.40673
Major Resistance @ 1.42670
EURCAD Daily UpdatePull from Daily Demand 1.39000. We are expecting that it will go to the Supply Level 1.43937. Then we can re-sell from the Daily Supply 1.43937 using Confirmation in Low TF, We expect for sell because this Supply Level 1.43937 removes the Demand Level 1.42100. so we can say that the Supply Level 1.43937. is Strong. We can Buy EURCAD in low TF till the Supply Level 1.43937 from a Valid Demand.
EURCAD Weekly OutlookIn Weekly TF market is still expected to Bearish, We can sell long from Weekly Supply 1.44271 to Weekly Demand Level 1.32512 .The reason of bearish in market is that market break the Demands Level 1.43633 and the Demand level is retested and this Demand level 1.39067 is Weak, so we will use confirmation to buy from this current Demand 1.39067 to Weekly Supply level 1.44271. Than we can expect to sell from Weekly Supply
EURCAD Will Go Up!EUR-CAD is trading in a falling channel
And the husband re-tests Channel support level and horizontal support at 1.392
I think it's followed by a bounce from existing areas
By the bullish correction is possible
So we will be waiting for the reversal signs
To be able to enter a long trade BUY
EURCAD might rise and here is whyPrice was in a strong bullish momentum in January and beginning of February 2022. Price got rejected at the December 2021 high and began to consolidate in a bullish flag formation. Just at the start of this week we saw price breaking out of the flag pattern. I expect price to rise with the possibility of reaching 1.461.
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EURCAD: Bullish Scenario Is Active!EURCAD is forming a downtrend channel.
Price is forming a final sub-wave 5 of wave (5).
In my previous idea, I have mentioned that, If the price breaks down channel C, the following targets for Wave 5 will be 1.4313 - 1.42520 - 1.41652- 1.41156.
Price reached all the targets of wave (5).
Click Here to check the previous idea:
Currently, the price is heaving correction, but safe traders can enter after the breakout of the C channel.
After making wave (5), if the price breaks the B channel, it can go for 1.4377 - 1.4466-1.45629-1.4645, and start a new 5-wave impulse structure.
Please note that without a breakout, trend changes may not be possible.
EURCAD | Perspective for the new weekMy perspective on this pair is going to be the opposite of the majority in the market as my research reveals that the big wigs are doubling down their position against the new week. Technically, with the strong support @ C$1.415 area; I foresee a short term gain for the Euro which might be a retracement of the overall bearish momentum or a possible move for an outright north in the coming weeks.
Tendency: Uptrend (Bullish)
Structure: Supply & Demand | Reversal pattern (Double Bottom)
Observation: i. It has been a Bearish run for the Euro since mid-September 2021 where the CAD recorded a 6.20% growth in the last 4 months.
ii. I am of the opinion that prices have found a bottom. Why? Well, since the price touched the C$1.451 area in November 2021, we have witnessed multiple strong rejections depicting buying power from this area.
iii. The highest point buyers have moved the price from the demand level is C$1.46 area (over 400pips move); this feat is recorded on the 20th of December 2021.
iv. Immediately price touched C$1.46, a downward spiral occurred which evolve into a Double bottom pattern within the same demand zone (during the previous week trading session) which based on past experience I have considered a strong area for the buyers.
v. Double Bottom: The appearance of this reversal pattern at this juncture in the market describes a possible change in trend and a momentum reversal from prior leading price action.
vi. In this regard, a breakout/retest of key level @ C$1.43 (neckline) will be a comfortable area for us to open a long position on this trade in the coming week(s).
NB: It is appropriate to state here that this is a counter-trend trade hence the need to be highly alert during the course of the trade as any bearish momentum could send the price crashing. .. Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 350 pips.
Risk/Reward : 1:4
Potential Duration: 10 to 15days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks 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.
EURCAD: Sentiments Are Short-Term Bearish, But... EURCAD has completed corrective wave 4, and if the price breaks the parallel channel C, it may make a new low, which should be impulsive sub-wave 5 of wave (5).
If price breaks down channel C, the following targets for Wave 5 will be 1.4313 - 1.42520 - 1.41652- 1.41156 .
After making wave (5), if the price breaks the B channel, it can go for 1.4645 and start a new 5-wave impulse structure.
Please note that the Breakout of wave (4) indicates a strong bull trend.
If the price breaks the channel without a downward, it indicates truncated 5th.
I will upload intraday chart for further information soon.
EurCad- Rise to resistance?Since November, EurCad is trading in a range, with a low of around 1.42 and a high above 1.4550.
Yesterday the pair visited the lower boundary of the range and reversed (Pin Bar on Daily chart)
At this moment there is a high probability of continuation to the upside and traders can look to buy dips under 1.43 with a target at 1.45
A daily close under 1.42 negates this scenario