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EURCAD: Bearish Momentum in PlayHello Traders, Trust trading has been awesome for you. Please find below my analysis of the EURCAD currency pair from H4 perspective. Trend & Sentiment The pair remains bearish, forming lower highs and lows. Sellers maintain control, though the current consolidation suggests temporary indecision, even though price is facing resistance around the 1.48591. Key Levels: Resistance: 1.48591 Support: 1.47211 Possible Movement A break below the equilibrium at 1.47993 could accelerate bearish momentum toward 1.47211 and 1.45831. A short-term pullback to the resistance at 1.48591 is possible (as we saw the buyers temporarily pushed above this region and closed back below it) but likely to face renewed selling pressure. Short-Term Target: 1.47800 Medium-Term Target: 1.47211 Long-Term Target: 1.45831. This trade may last from now till 22nd November or beyond to fully unfold. Conclusion The bias remains bearish, with a focus on the downside targets unless the price breaks above 1.48898 to challenge the trend. Cheers and happy trading!
Short
by Samuel124
Sell EUR/CAD Bearish ChannelThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.4908, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.4866 2nd Support – 1.4834 Stop-Loss: To manage risk, place a stop-loss order above 1.4940. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_FOREX_TRADING
3
EURCAD SELL TF D1 TP = 1.4616On the D1 chart the trend started on Aug. 22. (linear regression channel). There is a high probability of profit taking. Possible take profit level is 1.4616 This level, which I have outlined above, is certainly not a “finish” level. But it is the level that has the “highest percentage of hits on target.” Using a trailing stop is also a good idea! Please leave your feedback, your opinion. I am very interested in it. Thank you! Good luck! Regards, WeBelievelnTrading
Short
by WeBelieveInTrading
1
The EUR/CAD 1-hour chart shows a clear bullish trend The EUR/CAD 1-hour chart shows a clear bullish trend within an upward-sloping channel, with prices bouncing off support near the 1.4900 level. The pair recently broke above the channel's midline and is heading towards the upper boundary around 1.5100. This suggests the potential for further upside in the near term, with the current price action maintaining support at higher lows. Key points to watch: - Support: 1.4900 (bottom of the channel). - Resistance: 1.5100 (top of the channel). - A breakout above the upper boundary could signal strong bullish momentum, while a rejection could lead to a retracement back to the midline or lower channel support. This setup offers a potential trading opportunity depending on confirmation of the next move. Monitor price action and volume to confirm the breakout or reversal.
Short
by THE-10
1
The EUR/CAD Daily Chart shows trading within a rising channelThe EUR/CAD Daily Chart shows trading within a rising channel structure since early 2023, with the price respecting the upper and lower boundaries of this trend. Currently, the price is bouncing from a key support zone near 1.49, which aligns with the lower boundary of the rising channel. - Key resistance is around the 1.512 area, where the price has repeatedly faced selling pressure. - A breakout above this resistance could push EUR/CAD towards the channel's upper limit near 1.53. - However, if bearish momentum continues, the price may retest the lower channel support around 1.48-1.475. This technical setup suggests a balanced risk-to-reward ratio, with traders awaiting either a breakout or a rejection at key levels. It's a good time to monitor this pair for potential directional confirmation.
Short
by THE-10
#EURCAD 1DAY#EURCAD 1-Day Forecast Sell based on a Channel Pattern On the daily chart for #EURCAD, the price is moving within a clearly defined **descending or horizontal channel**, signaling a potential **sell opportunity**. The price has been respecting both support and resistance levels, forming a continuous trend inside the channel, with a bearish bias dominating the market. Key Insights: 1. Channel Pattern: - The price is fluctuating within a descending or sideways channel, where it repeatedly bounces between resistance and support levels. - The upper resistance line of the channel is holding firm, acting as a ceiling for the price, while the lower support line limits declines. 2. Sell Scenario: - With the price near the upper resistance of the channel, this is an ideal point for a sell entry, expecting the price to reverse and move toward the lower support. - Confirmation for selling can come from bearish price action (e.g., bearish candlesticks or rejection at resistance), indicating that sellers are regaining control. 3. Trend Continuation: - The overall market bias is bearish, as evidenced by the lower highs and lower lows within the channel. As long as the channel holds, the price is likely to continue this pattern, making selling on rallies an optimal strategy. 4. Volume Confirmation: Monitor volume for confirmation. A rise in selling volume as the price nears resistance would strengthen the bearish outlook, while low volume near the support could suggest a lack of momentum for further declines. 5. Stop-Loss Considerations: - For a sell position, place a stop-loss slightly above the resistance level of the channel, as a breakout above resistance would invalidate the sell setup and suggest a potential reversal to the upside. Trading Strategy: Entry: Enter sell positions near the upper resistance level of the channel, anticipating the price to move downward toward the lower support. Take Profit: Set take-profit targets near the lower support zone of the channel, where the price may bounce or consolidate. Stop Loss: Place a stop loss above the channel's resistance line to manage risk in case of an unexpected breakout. This analysis indicates that #EURCAD is currently in a **sell position** on the 1-day timeframe, especially as it nears the resistance of the descending or horizontal channel. Traders should aim for downward movement while managing risk carefully with proper stop-loss levels.
Short
by PIPSFIGHTER
1
#EURCAD 1DAYThe EUR/CAD pair on the 1-day chart is approaching a key support level that could potentially signal two scenarios depending on price action. Here's a description for both scenarios: Bullish Scenario (Buy Support Bounce): Pattern & Support: The EUR/CAD pair has been trading within a range, and the price is nearing a strong support level that has been tested multiple times in the past. This level could serve as a potential bounce zone if buying pressure reemerges. Forecast: If the price shows signs of rejection at this support (such as bullish candlestick patterns like a pin bar, engulfing pattern, or increased buying volume), it suggests a reversal and potential upside movement. Traders may look to enter long positions with the expectation of a bounce from this support level. A target could be set at recent resistance levels or Fibonacci retracement points. Bearish Scenario (Sell Support Breakdown): Pattern & Support: If the price fails to hold above the support level and breaks below it with strong momentum, this could signal a bearish continuation. Forecast:A break and close below the support level, especially with increased selling volume, could trigger a downside move. In this case, traders might look for short opportunities, anticipating further declines. The next potential targets would be lower support zones or previous swing lows. In either scenario, traders should monitor volume, momentum indicators (like RSI or MACD), and price action closely to confirm their trade direction.
by PIPSFIGHTER
EUR/CAD Bank Money Heist Plan to make money take moneyHola ola My Dear, Robbers / Money Makers & Losers, This is our master plan to Heist EUR/CAD Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Stop Loss : Recent Swing Low using 1h timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
Long
by Thief_Trader
1
EUR/CAD mini upward wave to 1.51(07/31/2024)Bears are controlling CAD, in fact, there is no reason to be bullish on CAD neither Fundamental nor technical! EUR/CAD is on a strong bullish bias. CPI data was positive and made EUR stronger. We are expecting the price to reach 1.51 where the most liquidity has been placed eventually. Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by fortunamarkets
Sell EUR/CAD Channel BreakoutThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.4932, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.4880 2nd Support – 1.4853 Stop-Loss: To manage risk, place a stop-loss order above 1.4965. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_FOREX_TRADING
2
EURCAD - Look for a long !! Hello traders! ‼️ This is my perspective on EURCAD. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look for a long position. My point of interest is if price makes a retracement to fill the imbalance lower and then rejects from bullish order block + trendline. Fundamental news: Next week on Tuesday (GMT+3) we have news on CAD, we will see results of CPI and on Thursday (GMT+3) we have Interest Rate on EUR, news with high impact on currency. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD