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Canadian Dollar/Euro

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CADEUR trade ideas

EURCAD - Sell Setup at Clear Resistance ZoneOANDA:EURCAD is approaching a significant resistance zone. This zone has consistently acted as a key area of interest where sellers regained control, leading to reversals. If the price confirms rejection through bearish price action, such as wicks signaling rejection, I anticipate a move downward toward the 1.49600 level. However, if the price successfully breaks and holds above the zone, this would invalidate the bearish outlook and could open the door for further upside. Proper risk management is essential, given the possibility of price breaking higher. This is not financial advice but rather how I approach support/resistance zones. Always wait for confirmation, like a rejection candle or volume spike before jumping in. And let me know what you think of this setup in the comments!
Short
by TrendDiva
10
Pullback resistance ahead?EUR/CAD is rising towards the pivot which acts as a pullback resistance and could reverse to the overlap support. Pivot: 1.50485 1st Support: 1.49229 1st Resistance: 1.51335 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
1
Bearish drop off 38.2% Fibonacci resistance?EUR/CAD is rising towards the pivot which has been identified as a pullback resistance and could drop to the overlap support. Pivot: 1.50485 1st Support: 1.49224 1st Resistance: 1.51355 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
EURCAD: Sell Setup After Impulsive Move to ResistanceFOREXCOM:EURCAD is approaching a significant resistance zone, marked by historical price rejections. This level aligns with a key area of interest where sellers have previously regained control, causing substantial bearish moves. The current market structure suggests that a potential rejection could occur if price action confirms it. If we observe bearish signals, such as a bearish engulfing candle or clear wicks rejecting the zone, the market may reverse and head lower. I anticipate that if sellers take control, the price could move downward toward the 1.50000 level, which represents a logical target within the current market structure. This setup reflects the potential for a retracement after an impulsive move, supported by the confluence of previous price behavior and the current structure.
Short
by DanieIM
2
EURCAD BULLISH FOR 100PIPSTechnical Analysis: Look for key support and resistance levels, trend lines, and moving averages that might suggest the pair is in an uptrend. A break above recent resistance could signal a potential 100-pip move higher. Economic Events: Key data releases or central bank decisions related to the Eurozone and Canada (like interest rate changes or GDP growth reports) could influence the EURCAD pair significantly. Market Sentiment: Assess the overall market sentiment toward the Euro and Canadian Dollar. If the market is generally bullish on the Euro or bearish on the CAD (e.g., due to weak oil prices, which affect the CAD), the pair could see upward momentum. Price Action: Monitor for bullish candlestick patterns such as bullish engulfing or pin bars around support levels, as these may signal a continuation of the bullish trend.
Long
by LORDOFTHETRADERS
EUR/CAD LONG VIEWKey Observations: Chart Type: This appears to be a 5-minute chart for EUR/CAD. Moving Averages (MA): 21-period MA (orange line): Tracks shorter-term price trends. 200-period MA (green line): Represents a longer-term trend. Current price is above both moving averages, indicating an upward trend. Price Levels: Current Price: 1.50984. Key Resistance Levels: 1.51976 1.51489 Key Support Levels: 1.50829 1.50392 1.50344 1.49945 Indicators Used: LuxAlgo Master Pattern Indicator: Likely highlights potential reversal or continuation patterns. RSI Divergence Indicator: RSI is at 71.27, suggesting the market is in the overbought territory. Bearish divergences are marked ("Bear" labels), signaling potential weakening in bullish momentum. A "Bull" signal in the past shows prior bullish momentum. Volume: Moderate volume activity with spikes aligning with price movements. Trade Setup: Long Trade (Green Zone): Likely initiated with an entry near support levels, targeting resistance at 1.51976. Stop Loss (Red Zone): Below 1.50392. The trade seems active and nearing its target. Analysis: Trend: The overall trend is bullish, supported by higher highs and higher lows. Potential Reversal: RSI bearish divergence and overbought levels suggest caution. A pullback to support levels like 1.50829 or 1.50392 is possible. Confirmation: If the price sustains above 1.51489, the bullish trend could continue toward 1.51976. Recommendation: If already long, monitor for a breakout above 1.51489 to add positions or tighten stop losses. If considering a short, look for confirmation of bearish divergence with a break below 1.50829.
Long
by dove8141