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Canadian Dollar/Euro

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CADEUR trade ideas

EUR/CAD Sellers Target Key Weekly Support Amid Weak Euro SentimeTechnical Analysis On the daily chart, EUR/CAD continues its downward movement after breaking out of a mild descending channel. Sellers have driven the price to the one-week low of 1.47112, reinforcing the current bearish sentiment. If sellers succeed in breaking through this key level, further downside targets are likely, with immediate supports at 1.46626, 1.46372, and ultimately at 1.46007. The presence of divergence between the Bollinger Bands, coupled with momentum oscillators pointing lower, clearly indicates that bearish forces dominate the market for the time being. However, if the price finds support at 1.47112 and bounces higher, resistance levels will come into play at 1.47795, followed by the major ceiling at 1.48900. A sustained break above 1.48900 would shift the broader outlook to bullish, signalling the potential end of the current downtrend. Key Events to Watch Investors will be closely watching Canadian inflation data related to raw material prices, which is expected to show a decline of 1.5% in October. Should the data surpass expectations, it could strengthen the Canadian dollar further, amplifying the downside pressure on EUR/CAD. Meanwhile, in Europe, speeches from ECB Governing Council members Elderson and Lane are scheduled, which could introduce some volatility for the euro.
Short
by Errante
Why I'm Longing for EUR/CAD to Hit 1.5: A Currency Love Story!Economic Romance: The Eurozone is experiencing a rebound, while Canada faces challenges like fluctuating oil prices. This economic disparity can lead to a stronger Euro against the Canadian Dollar. Interest Rate Drama: If the European Central Bank continues to raise interest rates while the Bank of Canada holds steady, the Euro could gain traction, pushing the pair towards 1.5. Commodity Price Fluctuations: As a commodity-driven economy, Canada’s currency can be sensitive to changes in global commodity prices. If prices dip, the CAD may weaken, benefiting the EUR. Political Stability: The Eurozone is showing signs of political stability, which can enhance investor confidence in the Euro, making it a more attractive option compared to the CAD. Technical Analysis: Chart patterns may indicate that EUR/CAD is poised for an upward movement, with 1.5 acting as a psychological target that traders are eyeing.
Long
by FtradeFXArabic
EURCAD GONE !The EUR/CAD currency pair has recently shown an upward trend driven by divergent monetary policies, with the European Central Bank maintaining a hawkish stance while the Bank of Canada adopts a more cautious approach, increasing euro demand. Declines in oil prices have weakened the Canadian dollar, given Canada's reliance on oil exports. Technical indicators reveal breaches of key resistance levels, signaling sustained bullish momentum. Traders should monitor economic data, oil price trends, and central bank communications closely to adjust their strategies accordingly.
Long
by edl75
EURCAD Will Explode! BUY! My dear subscribers, My technical analysis for EURCAD is below: The price is coiling around a solid key level - 1.4798 Bias -Bullish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 1.4912 My Stop Loss - 1.4731 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
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