EURCADEURCAD. Opened a sell trade at 1.4571. Looing for a nice downtrend with this pair after the breakout. First TP 1.44 Level and SL at 1.463 (et yours at around that level)
Eurcadtrade
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).
EURCAD Short EURCAD .Waiting for a close outside this range (around 1.4495 level) then I am selling this pair.
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.
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!
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 4H TECHNICAL ANALYSISDue to the falling wedge pattern the price has appreciated, now it is time of correction before moving further upwards. We go Short on this pair at the current level and book our profits at 1.3950 level.
EurCad Long 1H ChartUsing The 20/80 strategy on the fibonacci retracement we find that it has to at least return to 50 that would be the take profit 1
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
