Eurcadsetup
EURCAD ShortEURCAD has been forming Lower Lows and Lower Highs and has retraced to the 61.8 Fib in the 4hr time frame great opportunity to go short
EURCAD LONGPrevious resistance becomes support and 0.618 fib has been tested on the daily time frame. great opportunity to stay long on EURCAD.
Short at 1.5251 target 1.5100 sl 1.5315i SHort the eurcad i found cad is undervalued and i see nor eason why eur still strong
the eu cpi was just in line with expectation and core cpe missed expectation
2 ifo this morning was bad..he up just because of risk sentiment and speculation same as gold
short at 1.5251
target 1.5133
sl 1.5315
gain 152
SL =64
Crude oil strength means Loonie strengthI've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade.
For the past days, I've been obsessed with Canadian Dollar pairs.
If this Forex pair does break the graphed line, it may possibly dip to the 1.42500 area.
EURCADOur preference: lighten as long as 1.4707 is stopper with 1.4491 as objective.
Alternative scenario: the overflow of 1.4707, will validate an increase over 1.4785 and 1.4832.
Comment: The RSI is below its neutral zone of 50. The MACD is positive and below its signal line. The MACD must press the zero line to confirm a continuation of the drop. In addition, prices are below their moving average (1.4649) but above their moving average 50 (1.4621).
Euro correction or Euro bear, and Loonie bullAfter the huge decline of the Euro and Loonie Forex pair, it has formed a consolidation on lower time frames showing that it may continue its decline later on with the formation of a descending triangle.
EURCAD Long OpportunityBullish Pennant after Bullish Impulsive Move.
Notice that volume is declining as Price consolidates into the pennant.
We also have Divergence as RSI does not conform to Price Action making lower lows.
For profit taking targets, we set it at a 1:1 ratio of the flag pole measure from breakout of the pennant.
We enter long orders upon breakout of the pennant and place stop-loss orders below the previous low from the breakout.
EUR/CAD - 300 Pips Opportunity ShortEUR/CAD is currently in a bearish trend and can extend it's loss 300+ more pips down.
This is definititely a trade opportunity to keep an eye on.
As always, money manage properly and invest only after your own analysis.
Happy Trading!
EURCAD Short OpportunityThis trade is just the opposite of the CADCHF trade setup since these 2 pairs have a strong negative correlation.
But aside from the strong negative correlation, EURCAD has the trade setup which I am looking for so this makes a valid trade for me basing on my rules.
Please refer to this link for the CADCHF trade setup for more details:
Will enter this trade at 1.47900 with initial TP of 1.44600 to achieve 1:2 RRR while setting 165-pip stop loss. I know this is a very wide stop loss but it is just based on the size of the strong red candle which validates the trade idea and EURCAD has a quite high ADR so setting a 165-pip SL is also quite reasonable for the matter.
Long EURCAD Longterm Based on 1D ChartSince gapping up, price has tested and respected a major support/resistance area bounced up from it. Today we've seen price has touched this major support level and price did pierce through but quickly pulled backed and has respected this level. Zooming in on the 4H time frame, candlestick pattern confirms a reversal in the downtrend to an uptrend is probable and momentum is changing with stochs touching 10% oversold.
Check lower TF's for best entry. I've placed Stop loss very tight on the chart but do your own analysis, I may make mine wider.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Weak oil and weak dollarFrom the recent drop of the oil prices due to the disappointment of the market from the OPEC meeting and the recent bull of the Euro due to several factors (including the drop of the Dollar), the Euro-Canadian Dollar pair has been on a market range even during the bulls of the oil beforehand the OPEC meeting. It has now broken the mother bar and is slightly below of a resistance.
EURCAD Sneaking upwardsThese days CAD is been a strong currency, that can not last. I have my eye on EURCAD. It have been sneaking upwards in its indicators and waiting for it to break 10EMA and 55MA before taking action.
short EURCAD @ 1h @ trading capability for this 51st week`16This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
