EURCAD approaching support, potential for a bounce!
EURCAD is expected to drop to 1st support at 1.47072 where it could potentially react off and up to 1st resistance at 1.46351.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Eurcadsetup
EURCAD LONG TRADE IDEAThe EURCAD made an impulsive move to the upside and followed by a corrective structure that has retraced 61.8% of the rally.
The prices have rejected a broken resistance that lined up with mean value "moving averages" as support.
Price has the potential to resume higher from the near current level and resistance level @ 1.51700 area is a plausible target!
Eur/Cad Update!The Support Level is hard to see on the daily and even weekly chart, but it does exist! This is a monthly support level!
so.....
1. Daily Chart Came Down To Monthly Support and moved up , and then CAME DOWN again and RETESTED the Montly Support Area!
2. Indicators on hour 4 indicate a buy now!
So the Idea is that we are have entered a buy on the daily chart at a monthly support area and we ENTERED our trade on hour 4 to confirm this buy!
I hope this helps!
EURCAD TO POTENTIALLY MAKE NEW LOWS I recently marked up this pair with a bearish prospective ( i have attached the mark up) since then, price moved bearish and hit our take profit level. Price has moved bullish since then into what we can potentially see as a retracement. We may then see price break lower and move toward our take profit level.
Entry - grey line
Stop loss - red line
Take profit - green line
Hit that follow button :)
EURCAD FOR A SELL AFTER A PULLBACKWe can see price gapped bearish to a price level of support and we are currently filling the gap. There is potential for price to retrace to our entry marked with the grey line as a means of gaining momentum before price continues bearish .
Grey line - entry
Red line - stop loss
Green line - take profit
Risk exposure - 1%
Follow me for more analysis and educational posts.
EURCAD - BIG LONG TRADEEUR/CAD is preparing itself for a big upmove.
Recovering with 2 candles only after hitting the daily support and now failing to enter into a reversal phase, it is finding its support for a bigger up move in this consolidation phase.
Keep this pair in your watchlist and look for a buy on the next low test.
This is a very good looking setup. Highly probable move coming up next if the support holds and prices keeps rejecting the lows.
As the prices make its push up and breaks the 200 ema on the daily, we'll have the beginning of the bullish weekly trend.
Trade safe.
EUR/CAD - Long Term Bullish OpportunityEUR/CAD has been in consolidation on the 8H chart for now 3 weeks.
It's failing to make a move down. Bulls are getting in and preparing for the bullish move thus preventing the pair to make a move down to a lower low.
Leave 80-100 pips SL and double the TP.
You will have to hold this position for arround a week or more.
Trade safe.