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Eurcadsignals

EURCAD Hit the 1D MA100 for the 1st time since February!The EURCAD pair hit on Friday the 1D MA100 (green trend-line) for the first time since February 24. It just so happens that this contact is taking place at the top (Lower Highs trend-line) of the long-term Channel Down pattern that the pair has been trading in since mid August 2021. This level gives very favorable trading opportunities in terms of Risk/ Reward Ratio. Technically being at the top of the Channel, there are higher probabilities for a rejection but it is not absolute as a break above it as well as the 1D MA100 took place on February 03, which only stopped on the 1D MA200 (orange trend-line) two days later, after making a Double Top rejection on the Channel's previous Lower High. As a result, the risk is very low in selling now and having an SL at the top of the Channel, while targeting the previous Low at 1.28740. If the Channel breaks to the upside, we can take a short-term break-out buy, targeting the 1D MA200. A break and closing above the Resistance (previous Lower High) should be interpreted as a bullish shift of the trend on the long-term. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
1
EURCAD Trade with break-outsThe EURCAD pair has been trading within a long-term Channel Down since the September 20 2021 High. Right now it is consolidating after the July 13 Low, being below the 1D MA50 (blue trend-line) since June 28. Also below the 0.5 Fibonacci retracement level, this calls for extended selling to new Lower Lows as it happened two times before within the Channel Down. However a break above the 1D MA100 (green trend-line), should initiate a short-term push to the 1D MA200 (orange trend-line), as it happened on February 03. Similarly, a candle close above the 1D MA200, should signal a complete long-term trend shift from bearish to bullish. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
EURCAD | Perspective for the new weekPrice action has been caught within a descending channel since the month of June and we are not sure if the price is going to continue to respect this downtrend situation or could there be a breakout of the channel to incite a bullish momentum? This video explains how I intend to take advantage of a trading opportunity this week. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
by darcsherry
EURCAD approaching the bottom of its Channel Down.The EURCAD pair has been trading within a Channel Down pattern since September 2021 Triple Top. Such Double/ Triple Top Resistances are important as even in the one time the price broke above the pattern, it got rejected (February 07) on the Resistance of the previous High (Double Top), which also happened to be where the 1D MA200 (orange trend-line) was. On the short-term, we can buy and target the 0.5 Fibonacci retracement level (around 1.33800). Only a break above the previous (Lower) High (1.37200) can turn the long-term trend around. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
1
EURCAD Best buy level on a 2 month horizonThe EURCAD pair has been trading within a Channel Down since December 2020. Recently it broke above its 1D MA50 (blue trend-line) but failed to maintain momentum and dropped back near the mid-May bottom. In our opinion this is not alarming as the 1D MA50 break-out was a first step towards entering into the Lower High phase that took place after the 1D RSI showed a bullish divergence (Higher Lows) against the price (Lower Lows). As you see, when this bullish divergence happened within the Channel Down, the pattern formed a bottom and the price started gradually to rise towards the Lower Highs trend-line. The last two Lower Highs took place exactly on the 1D MA200 (orange trend-line) and on a Fibonacci basis, the (almost) reached as high as the 0.5 Fib retracement level. As a result, if mid-May was the bottom, you have a solid buy entry now, on which you can take the profit when the price hits either the 1D MA200 or the 0.5 Fib. Whichever comes first. If the mid-May low breaks, expect a closer drop to the Channel's Lower Low and if that gets compromised too, a failure and invalidation of the whole pattern towards the -0.236 Fibonacci extension. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
2
EURCAD get ready for cyclical uptrendEURCAD has been trading within a stable and consistent pattern on the long-term. Since 2013 it is trading within a hyperbolic channel posting aggressive 1 year rallies followed by steadier +1.5 years corrections in the form of Channel Down sequences. At the moment the price is trading at the lowest level it has been since early June 2015 and the closest to the bottom of the hyperbola. We are turning bullish on this pair long-term, expecting a 1 year rally towards the top of the hyperbolic pattern, with an early estimate being 1.51000. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
EURCAD | Perspective for the new week | Follow-up detailsSince my last publication on this pair, the price moved over 350pips in our direction before the retracement began ( see link below for reference purposes). And I expect the retracement to culminate at a level between 50 and 78.6% before the rally continues hence my previous bias still holds (see link below for reference purposes). Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. Following the bearish run that lasted 5 months, the CAD recorded a 6.20% growth against the Euro and it appears the Euro is gaining traction following the strong impulse leg that began on the 27th of January 2022. ii. Double Bottom: The appearance of this reversal pattern at this juncture (C$1.41) in the market revealed a change in trend and a momentum reversal from prior leading price action as selling momentum continued to reduce. iii. So, I am looking forward to the retracement to test the neckline which is also the key level or within C$1.425 & 1.435 to hop into the potential rally in the coming week(s). iv. Please note that the above key level remains a comfortable area to buy the euro with an opportunity to add to the existing position at breakout/retest of C$1.462... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:4 Potential Duration: 5 to 12 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
EURCAD bottomed long-term. 1 year rise ahead.EURCAD has one of the most stable and consistent patterns in forex on the long-term. Since 2013 it is trading within a hyperbolic channel posting aggressive 1 year rallies followed by steadier +1.5 years corrections in the form of Channel Down sequences. At the moment the price is trading at the lowest level it has been since early April 2017 and the closest to the bottom of the hyperbola. I am turning bullish on this pair long-term, expecting a 1 year rally towards the top of the hyperbolic pattern, with an early estimate being 1.55000. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
7
EURCAD | Perspective for the new weekMy perspective on this pair is going to be the opposite of the majority in the market as my research reveals that the big wigs are doubling down their position against the new week. Technically, with the strong support @ C$1.415 area; I foresee a short term gain for the Euro which might be a retracement of the overall bearish momentum or a possible move for an outright north in the coming weeks. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Double Bottom) Observation: i. It has been a Bearish run for the Euro since mid-September 2021 where the CAD recorded a 6.20% growth in the last 4 months. ii. I am of the opinion that prices have found a bottom. Why? Well, since the price touched the C$1.451 area in November 2021, we have witnessed multiple strong rejections depicting buying power from this area. iii. The highest point buyers have moved the price from the demand level is C$1.46 area (over 400pips move); this feat is recorded on the 20th of December 2021. iv. Immediately price touched C$1.46, a downward spiral occurred which evolve into a Double bottom pattern within the same demand zone (during the previous week trading session) which based on past experience I have considered a strong area for the buyers. v. Double Bottom: The appearance of this reversal pattern at this juncture in the market describes a possible change in trend and a momentum reversal from prior leading price action. vi. In this regard, a breakout/retest of key level @ C$1.43 (neckline) will be a comfortable area for us to open a long position on this trade in the coming week(s). NB: It is appropriate to state here that this is a counter-trend trade hence the need to be highly alert during the course of the trade as any bearish momentum could send the price crashing. .. Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:4 Potential Duration: 10 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
1
ERUCAD | Perspective for the new weekBagged 320pips in our direction before the rally began in my last speculation on this pair (see link below). Despite an overall Bullish perspective for the Euro, most of the new year has seen price hustling below CA$1.55400, a feat showing less confidence in the Euro. The unattractive net change in unemployment rate released last week mirrors a negative implication for consumer spending which has an adverse effect on economic growth making the Canadian Dollar less attractive too. This explains the indecisive pattern represented on the chart (parallel channel) but following the positive figures coming out of economic release last week for the Euro, a promising future for the Euro over CAD in the coming if the price does not break below CA$1.52500 (completing a Double Bottom structure) appears to be feasible. Tendency: Uptrend ( Bullish ) Structure: Reversal pattern (Double Bottom) | Supply & Demand Observation: i. Characterized by an indecisive pattern since mid last year, the price has been caught within a range with no clear sign of a rally or decline. ii. This been said, it appears we still can make a trading decision based on certain setup seen on the chart. iii. A possible formation of a Double Bottom is unfolding if price did not break below demand zone @ CA$1.52500 in the coming week(s). iv. It is advisable to be very conservative at this juncture for a long position can only be really confirmed if price breaks above the Neckline @ CA$1.55400 (outright buy or buy from correction). v. It is worthy to note here that, any significant Breakdown of demand zone @ CA$1.52500 shall consider this bias invalid... Trade consciously! vi. A significant Breakdown of demand zone @ CA$1.52500 might see price head for CA$1.49000 area before the rally begins. Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:3 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
4