EURCAD (Bearish)Starting your analysis and mapping out your support + resistances level from a higher timeframe such as the weekly or daily will give you a much better understanding of where price may be heading. Remember, to be able to determine the future more accurately, we must study our past. History repeats itself as they say.
*Always remember to let price action develop and use proper RISK MANAGEMENT*
Eurcadshortsetup
EURCAD - SHORTThere is a major break looming in this pair! Not that the Loonie by itself would be the end-all but as part of NAFTA it ought to vaporize the Euro rather effortlessly - just at it's been doing to the Aussie already, for quite a while now. (Now, if they just got rid of their neo-Marxist government and US-esq, deranged, monetary mismanagement ... ;-) On the long run, the CAD is in the position to be a valid alternative to the USD for Dollar bulls. (... of whom I am one.)
EUR/CAD - Short; Heavy resistance confluence!This pair is running into major resistance here, in an area of heavy confluence.
This is the end of a corrective rally, in which all Euro pairs participated, off of their recent, major lows. (Mostly due to a, yet again, market wide delusion that the EU will have to tighten ("at least!") 375 basis points... When in reality, as the latest data illustrates, the EU couldn't even climb out of its decade long deflationary spiral despite a massive, war/sanctions - and categorically, self - induced inflationary spike.)
Also, the EUR/GBP showing every sign of a top here, consequently, this pair makes an even stronger case for this Short than it's cousin's, the GBP/CAD.
This pair is on the verge of a cliff with no technical support under the current levels, i.e., for the next -550 pips. Which makes it the obvious Short Target.
Note; This has been stated time and again that these CAD pair shorts, while the case is strong, remain inferior to their USD cousins.
The EUR/GBP picture
EURCAD SHORTStructure from the price always be a continuation and consolidation. In this case from the EURCAD in time frame, 4h price still in consolidation and waiting for confirmation price will be continuation for falling down or will be bouncing up to the top. in my opinion, this EURCAD will be falling down like what happened before, the chart already makes a flag pattern and it will be my confirmation. Remember to use money management if u take a trade!
EURCAD Short Trade SetupA bearish opportunity recently presented itself on the euro-loonie trading chart. This follows from the bearish harami candlestick pattern which printed just below the 1.33000 psychological level, indicating a rejection of the level. A stop loss above the 1.34000 psychological level and a profit target anywhere between your entry and the swing low of 1.28777 could give you a reward-to-risk ratio as high as 3 or even higher. Be sure to size your position based on your trading account balance and apply other risk management measures before placing trades.
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EURCAD Bearish Rollercoaster A higher time-framed bearish pennant has formed ,with CAD Interest rate statement underway ,we can expect the continuation to be executed by the bear and taking charge for a considerably long period towards the 1.40000 levels. Not only the fibonacci levels have proclaimed the movement but also strong support has been immuted into a resistance which is holding strong despite the weak employment data for May '21.
EUR/CAD Technical Analysis.Hello traders, EUR/CAD is trading at 1.4850. The Pair is trading in ascending resistance and support wedges from some time and the price just touched support level. As the price has touched support level it will give a small pull back and then it can come down to break the support level. If the price breaks the support level then its target price will be at 1.4721.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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EURCAD shortas we see eurcad just hit the monthly trendline and just like it did before it revearsed down and for right now we also see the head and shoulder pattern forming.
what we expect this last week of this mont is the retracement to the 61.8% or the 78.6% level, it can also head downwards.
tp levels are the given levels.
have a good week.
EURCAD Technical Analysis
- Currently we can see a downward channel formation on EURCAD
- 1.5450-1.5400 is a support area and 1.5700 is a resistance also the upper edge of the channel.
- The price is above 200 EMA on Daily TF.
- A sustained move over 1.5400 will indicate the presence of buyers. If this move creates enough upside momentum then i'll look for the rally which can possibly extend to 1.5700
- Meanwhile, A daily close below 1.5400 can take the price to 1.5050
EUR/CAD Forming Cup and Handle Pattern.Currently, EUR/CAD is trading at 1.5586. The pair is trading above the channel resistance level, It can move below resistance level to start a new down trend in the channel. So, accordingly plotted entry levels and target price. If the price breaks resistance level at 1.5531 inside the channel, then the price will enter into the downward channel and start a new down trend. Then its target price will be the support level of channel at 1.5350.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat
EUR/CAD Technical Analysis.Currently, EUR/CAD is trading at 1.5625. The pair is trading in a downtrend from some time by making channel patterns in the resistance and support wedges. The price is about to touch the resistance level at 1.5673 and it may rebound back from there. The pair is in downtrend from some time, so it may continue its down-trend and touch its support level at 1.5495 after rebounding from the resistance level.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex technical analysis and Ideas.
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Rishikesh Lilawat
EUR/CAD Technical Analysis.Currently, EUR/CAD is trading at 1.5479. The pair is consolidating in the resistance and support wedges. Previously, the pair was trading in resistance and support wedges by making higher high lower low pattern. It may start a new down trend if it breaks the support level and neck line at 1.5392, then its first target price will be at 1.5284 and the second target price will be at 1.5218.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and ideas.
Thank you,
Rishikesh Lilawat