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Eurcadlong

EURCAD testing support, potential for a bounce!Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see a bounce at our 1st support at 1.53417, which is in line with our 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal overlap support, and further upside towards our 1st resistance at 1.53920, in line with our 127.2% Fibonacci extension and horizontal swing low support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by TradeGATEHub
4
EUR/CAD Multi-Timeframe analysisHi Traders EUR/CAD Multi-Timeframe analysis H1 CHART ( Strong Up ) The market is approaching the support at 1.53258 . We are waiting to see reversal signals in order to reinstate LONG positions. Next important support is the 1.53039 level. Support & Resistances 1.53258 1.53486 1.53039 1.53548 1.52678 1.53719 H4 CHART ( BEARISH ) Conflicting technical signals are indicating towards an unstable market, cautioning us to remain neutral and wait for a stronger trend to develop. Support & Resistances 1.53124 1.53498 1.52619 1.53782 1.52092 1.54414 DAILY CHART ( NEUTRAL ) Waiting for a retracement higher towards the 1.52666 resistance level in order to reinstate SHORT positions. Next important resistance is the 1.54016 level. Support & Resistances 1.52660 1.52666 1.50744 1.54016 1.47486 1.55924 WEEKLY CHART ( NEUTRAL ) The market is dominated by uncertainty. The occasionally prevailing trend lasts for a limited time and changes its direction too frequently. As long as the market remains unstable, we stay aside, waiting for the market to get back on track. Support & Resistances 1.52666 1.59912 1.50518 1.62060 1.47707 1.64871
by Avramis
1
EUR/CAD Technical Analysis.Hello traders, EUR/CAD is trading at 1.5262. The price is trading in downward resistance and support channel and can rebound back from its support level. As the price has already touched its support level, it can rebound back to resistance level. If the price breaks 1.5265 price level then it can touch the resistance level at 1.5297. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5
EURCAD - To short to 1.51500, then long to 1.52800As you can see on the chart, price is currently in a downtrend. Price has been rejected by the resistance line (upper trendline). Therefore, I expect price to first sell to 1.51500 before an uptrend to 1.52800. What do you think? Share your opinion in the comment section.😇 Please support this idea with LIKE👍 if you find it useful.🥳 Follow me to receive more contents like this.🤙 Happy Trading💰🥳🤗 Trading Involves High Risk⚠️ Not Financial Advice💸 Use Proper Risk Management💹 Thank you for your support!💓
Short
by PetrockFxTrading
2