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Canadian Dollar/Euro

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CADEUR trade ideas

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
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
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Long
by Thief_Trader
The Top 3 Catalyst Of Forex TradingSpotting a breakout is a good strategy because its something that I have always wanted to learn how to do when I started forex. - Now you need to be careful when you are trading forex options and always remember to calculate your risk levels because there is always risk associated with these types of trade and remember to take profit as well Now in about 2 weeks time the biggest catalyst in the forex market is going to take place. Think of these before you trade CAPITALCOM:EURCAD In this forex pair there are 3 catalysts to consider: -The Bank of Canada's interest rate decision -The unemployment numbers -The GDP numbers It's important to take note of the catalyst as you build your own trading strategy either way, you can learn from the one am using its called the rocket booster strategy to learn more about it Rocket boost this content right now Disclaimer: Trading is risky please learn risk management and profit-taking strategies. And remember to use a simulation trading account before you trade with real money.
Long
by lubosi
Potential bullish rise?EUR/CAD has reacted off the support level which is an overlap support and could rise from this level to our take profit. Entry: 1.4921 Why we like it: There is an overlap support level that is slightly above the 38.2% Fibonacci retracement. Stop loss: 1.4842 Why we like it: There is a pullback support that is slightly above the 61.8% Fibonacci retracement. Take profit: 1.5043 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets