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Eurcadlong

Divergence found on EUR/CAD pair WeeklyFor the last couple of months, the EUR has maintained a weak position against many of its trading partners. This includes the Canadian dollar. The Canadian dollar has benefitted immensely from the high cost of crude, in addition to the Bank of Canada (BoC) moving much faster than the European Central Bank (ECB) to start hiking interest rates in the face of inflationary pressure. Yesterday, the BoC enacted a 75 basis-points rate hike, its fifth post-pandemic hike. Today, the ECB is expected to deliver a 75-basis points rate hike, only its second post pandemic rate hike. TECHNICAL ANALYSIS. From the weekly timeframe, EUR/CAD is primarily on a downtrend. We also see a classic divergence in the Money Flow Index (MFI). The Money Flow Index (MFI) is a technical indicator that measures how money flows into and out of a security over a specified period. The MFI is an indicator that combines momentum and volume with an RSI formula. With a classic divergence, the MFI indicates a reduced volume as price trends downwards.
by BlackBull_Markets
Time To BUY EURCAD 1200 PIP Move On The Horizon ?EURCAD has been dropping pretty heavy for nearly 2 years now and analyzing the MONTHLY and WEEKLY charts we have now entered a key long term demand/buy zone and at we touched a strong support level from 2011 this is all indicating that we have a potential 1200 pip BUYING opportunity back up to 1.40. As you can see on the chart above on the DAILY chart price has been grinding down to this key level and has started to create divergence signals on the MACD price creating new lows while the MACD moving higher indicating slowing of momentum inside a key MONTHLY demand/level thus indicating a reversal is on hand. What I expect to happen next week is price to maybe come down to test last weeks LOW around 1.29 or maybe slightly lower which will allow me to start positioning myself in this LONG trade. I will have a stop loss around 1.265 and long term take profit of 1.40 area nearly a 5:1 risk/reward on this position a break and clean close below the weekly demand zone will invalidate this position. Hope you enjoyed this breakdown happy trading
Long
by TheFxAce
Fiber/Loonie recovery setupHi everyone in the TradingView community. I am Rana Sarmad I like to share and talk about trading strategies. If you are a member of my subscribers list and like my ideas, please don't hesitate to let me know by hitting that Like button and growing my notification count! We are going to discuss about FX:EURCAD We can see a market break its strong support in D1. So we are expecting a strong rise near support. This is my opinion, I really hope this will be useful for you. This is not a financial advice. Always take trade at your own risk, Be ready and take care your money. Have a great profit ! Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the EMOTT brand based on the legal requirements in his/her country of residence........
Long
by Theranasaramd