Eurcadshort
400 pips short setupPrice touched a descending triangle on daily chart & broke out of the ascending trendline on 4H Chart, price is currently at minor resistance zone.
EURCAD AnalysisWaiting for wave (ii) to complete before selling.
NOTE: Not a recommendation. Just an opinion.
EURCAD, daily tf, sell ascending trendline break Hello my friends,
Another trade to take today is EURCAD pairs.
I've been watching this pairs since the big bearish candle took out that ascending trend line during December 4th.
We could see this pair go lower again because the last 2 days candle has failed to closed back above the trendline.
This trend line pretty much become a resistance now and there is horizontal resistance as well at 1.5530 area.
Notice EMA10- and EMA-20 now become a resistance as well and located around 1.5520-30 area.
We could draw a conclusion that 1.5530-20 area is an area of confluence resistance and it will take a big power from buyers to take this resistance down.
Notice also the last 2 daily candles are bearish pinbar.
It means sellers are in control of this pair and don't want EURCAD to go higher for now.
Sell EURCAD 1.5525
Stop loss 1.5580
Take profit 1.5360 (3R)
RR ratio 1 : 3
Use only 1-2% risk
Good luck
Disclaimer : i hold EURCAD sell from 1.5525
EURCAD: BULLISH movement is over...Waiting for the BEARISH SignsIf we look at the fib line I drawn, we can see that BULLISH movement hitting 1.618 fib level have already occurred. Currently, price level is below 1.0 fib level and we start to see potential rejection occurring for further BEARISH movement. If we look at ichi cloud, we can see that price is moving towards the cloud which could give EURCAD a BEARISH rejection given the case that we are currently within our trend line. This movement could also be a retest after the fakeout as we able to see. I will be expecting BEARISH movement as of now till the support level or 38.2 fib level.
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EUR/CAD Sell opportunity Head and shoulders sell opportunity forming. Take the sell below neckline break
EURCAD, 4hr tf, sell after wave-4 retracementHello my friends,
Another setup for the coming week is EURCAD pair.
As you can see, the recent movement of EURCAD could be analyze using Elliott Wave theory.
We could assume the recent movement to the downside as an impulsive wave-1 and wave-3.
After this impulsive wave-3 we could expect price to retrace.
Wave-4 usually retrace around 23.6%-50% fibonacci retracement.
Well, for the best trade setup we could try to set a pending sell limit order around 50% retracement because it will give us a favorable 3R setup.
Sell limit EURCAD 1.5570
Stop loss 1.5610
Take profit 1.5450 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
After price move according to our direction for 40-50 pips, please set SL to BE or take partial profit
Good luck
EURCAD ANALYSIS BUYEURCAD ANALYSIS BUY
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EURCAD reached Resistance Level and will fallEURCAD has reached a resistance line that has been tested multiple times and rejected. We can expect the price to go test 1.55810 level then possibly go down and test 1.545 level.
EURCAD is testing 1st resistance, potential for further drop!EURCAD is testing our first resistance, in line with our 127.2% Fibonacci extension and horizontal swing high resistance. Price could potentially reverse off this level towards our first support, which is in line with our 78.6% Fibonacci extension, 50% Fibonacci retracement and horizontal overlap support. It is worth noting that the RSI is also approaching the resistance level at 59.93.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
EURCAD, 4hr tf, sell channel breakout retestHello my friends,
Last setup for today is EURCAD pair.
As you can see there is a ascending channel which has been broken recently.
Price retest this channel twice and failed to close back above it so i could say it is now a valid resistance.
We could see price rotate lower from this point.
The last 4hr candle also looks like a bearish pinbar which is a good indicators that sellers are in control for now.
Sell EURCAD 1.5490
Stop loss 1.5520
Take profit 1.5430 (2R)
RR ratio 1 : 2
Use only 1-2% risk
Good luck
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SELL SELL SELLhello team, expecting the current h4 to close as a bearish candle from supply as well as the golden zone. profits shall be taken at the neckline
EURCAD Short trade ideaHey traders, here is the analysis for the EURCAD. NOTE - Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
EURCAD EURCAD short preference towards T1 and T2.
Selling as long as downward resistance holds true
UPDATES to follow
EURCAD is facing bearish pressure, potential for further drop!Price is facing bearish pressure from our first resistance in line with our horizontal swing high resistance, 61.8% Fibonacci retracement and 100% Fibonacci extension where price could drop from this level towards our first support, which is in line with our horizontal pullback support and 61.8% Fibonacci retracement. It is worth noting that RSI is testing the descending resistance level.
