EURCAD - SWING - 06. JULY. 2020Welcome to our weekly trade setup ( EURCAD )!
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1 HOUR
Bullish reaction and open this week.
4 HOUR
Overall waving market structure at its lows.
DAILY
Good long entries, prices are down and above to jump up.
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FOREX SWING
BUY EURCAD
ENTRY LEVEL @ 1.52780
SL @ 1.52110
TP @ 1.54000
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Eurcadlong
EUR/CAD at support line💡Hello traders,
Hope you are having fantastic summer and also are finding time for trading as well :)
I will really apricate any likes and follows, that would help grow this channel.
Let's take a look at EUR/CAD. We can see that price is at strong support line and indicators are showing us that price is loosing it's momentum and we believe price now will be going higher.
Let us know what you think about this idea.
Trade safe !
EURCAD, 4hr tf, inverted shouders head pattern Right now we could see EURCAD making an inverted shoulders head pattern on 4hr time frame.
Price also broke through the neckline and right now i see a retest of this neckline. There is also a structural area around it where it acted as resistance before.
Buy position can be taken at this retest for a potential upside.
Buy EURCAD 1.5340
Stop loss 1.5260
Take profit 1 @1.5420
Take profit 2 @1.5500
good luck
EurCad outlookFor more than two and a half months EurCad is trading in a 300 pips range, with a support at 1.51 and a resistance at 1.54 zone.
Now the pair seems to build upside momentum and a break looks imminent.
In this eventuality, EurCad could and should accelerate up and the target could be 1.58 in the medium term.
In my opinion, dips should be bought
EURCAD AnalysisPeace, mercy and blessings of God
The pair has exited the channel as noted
In case the price closes above 1.54113 we will see the target exactly 1.56336 at 61 Fibonacci
But in the event that the price broke 1.52738 and closed below it, we will see it again inside the descending channel, and its first targets are at 1.50488
Beyond the latter, we will see the second target at 1.47926
Buying or selling depends on 1.54113 resistance and 1.52738 support
We ask God for success
EURCAD Outlook | Long SetupEURCAD currently retesting the roof of the ascending parallel channel and the previous level of resistance. Should we see a rejection from here I will be looking to enter longs on a pullback towards the 0.5-0.618 area of Fibonacci retracement, and set TP target to the outer 0.618 fib level in correspondence to our respectable descending trendline.