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Canadian Dollar/Euro

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several critical patterns Analysis on EUR/CAD 30m Pattern Formation - Symmetrical Triangle: The green dotted lines indicate a symmetrical triangle pattern, suggesting potential price consolidation before a breakout. - Descending Channel: The red dotted lines show a descending channel preceding the triangle, indicating the initial bearish trend. Volume Profile Analysis - High Volume Nodes: Higher trading volume is present around the support level near 1.4722, suggesting strong buying interest at this point. - Low Volume Areas: There is lower volume around the upper resistance levels, indicating less resistance to potential upward movement if a breakout occurs. Price Action Analysis 1. Top Right (1-Month Candle Chart): - Trend: The monthly chart indicates a downtrend with recent bearish candles. - Candlestick Patterns: The last few monthly candles show lower highs and lower lows, suggesting continued bearish sentiment. 2. Mid Right (2-Week Candle Chart): - Trend: The 2-week chart shows consolidation, with price fluctuating within a narrow range. - Candlestick Patterns: Mixed red and green candles suggest indecision, but recent candles lean towards a potential bullish breakout. 3. Bottom Right (Weekly Candle Chart): - Trend: The weekly chart shows a recovery from the recent downtrend, with the price attempting to form higher lows. - Candlestick Patterns: Recent green candles indicate bullish momentum, although not yet confirmed. Disclaimer This analysis is provided for informational purposes only and should not be considered financial advice. Trading financial instruments involves risk, and you should perform your own research and analysis before making any investment decisions. Always consult with a professional financial advisor.
Long
by TJalam
EURCAD Testing the 1D MA50. Sell opportunity.The EURCAD pair eventually formed the new Lower High on the 17-month Channel Down as presented on our last analysis (May 27, see chart below) and got rejected: The rejection extended to as low as the 1D MA200 (orange trend-line) and a short-term rebound has brought the price back to a 1D MA50 (blue trend-line) rejection. Both previous Bearish Legs declined at least by -3.85%. We expect this 1D MA50 rejection to lead the price to at least Support 1, with our Target being 1.45000 (just above it). On a side-note, check the high degree of symmetry between the 1D RSI sequences of the Channel's Legs. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
EUR/CAD Consolidation Watch: Ready for a Breakout!Hey traders, here’s the scoop on EUR/CAD: ⚠️ EUR/CAD is currently showing signs of consolidation after a recent bullish move. On the 4-hour time frame, we can see that the market is trading within a well-defined range. Here’s the breakdown: ✅ Bullish Scenario: Entry: Look for a strong breakout above the resistance level at 1.47121. This level has been tested multiple times and a breakout here could indicate a continuation of the bullish trend. Stop Loss: Place your stop loss just below the recent swing low at around 1.46790 to protect against false breakouts. Target 1: The first profit target can be set at 1.47487, offering a reasonable risk-reward from the entry point. Target 2: If momentum continues, look for an extended target around 1.47774. ❌ Bearish Scenario: Entry: If the price fails to break above 1.47121 and shows signs of reversal, consider entering a short position. Stop Loss: Place your stop loss just above the resistance level at around 1.47200. Target 1: The first profit target can be set at the support level of 1.46790. Target 2: If bearish momentum is strong, look for an extended target around 1.46400. Key Indicators: The 21 EMA (yellow line) is acting as dynamic support. A break below this could be an early sign of a bearish move. The 200 EMA (blue line) is far below the current price, indicating a strong bullish trend overall. Monitor price action closely near these critical levels for any signs of breakout or reversal, and as always, adjust your strategy based on real-time market conditions. Let’s catch these moves and trade smart! 📈💼
by SheenaL
EUR/CAD: Key Levels and Trading Strategies for Upcoming Moves📅 Let's get into today's analysis. I've decided to focus more on Forex analyses, and today we're analyzing the EUR/CAD pair with the main timeframe being weekly. I'll be looking at the chart solely from a technical analysis perspective. 🔍 In the weekly timeframe, as you can see, after the market found support at the 1.2953 level, bullish momentum entered and we managed to move up to the 1.4945 resistance level. After this sharp upward movement, the market entered a correction phase and corrected down to the 1.4141 level. Currently, the price is ranging between the 0.382 Fibonacci level and the 1.4945 resistance. I believe that until the price either breaks above 1.4945 or below 1.4141, the market will continue to range within this box. 🧩 There is also a minor ascending trend line that the price has reacted to multiple times, which could be a key determinant for future price movements. The price is currently trading above this trend line, indicating potential continued bullish momentum if it holds. 🧲 Regarding the 0.382 Fibonacci level at 1.4330, it has acted as a strong support in the past and could continue to do so. If the price breaks below this level, it might move down to the 0.5 Fibonacci level at 1.4141. 📈 For a long position on the weekly timeframe, it seems appropriate to wait for a break above the 1.4945 resistance area. The target for this move, based on the overall range, could be 1.5798. However, this target is quite high, and if the price aims to reach it, it will likely be a long-term move. 📉 For a short position, breaking below 1.4141 serves as a good trigger. If the price stabilizes below this level, it might move down to the area around 1.4327 and potentially lower if the bearish momentum is strong. For shorter-term positions, it's better to look at the 4-hour timeframe. In this timeframe, we have a long-term range box and a significant support area around the 0.382 Fibonacci level on the weekly chart. There’s no need to extend the analysis here; I’ll just discuss the entry triggers. 📈 For long positions, we have three different triggers. The first trigger is a break above 1.4763, which is the riskiest one with a target of 1.4945. The next trigger is a break above 1.4945 with a target of 1.5798. The final trigger is at 1.5798, with potential higher targets if the bullish momentum is strong. 📉 For short positions, the first trigger is a break below 1.4591, and the second trigger is the break of the support area at 1.4327. ♟ Now, let me explain how I personally trade with each trigger. For the long trigger at 1.4763, I open positions in lower timeframes such as the 1-hour chart and set a small stop loss to quickly reach a risk-reward ratio of 2, which is my first target, with minimal risk. For the 1.4945 trigger, I open a position with normal risk and a regular stop loss size. For the 1.5798 trigger, I open a position with a larger stop loss because the trigger is at a significant resistance level and represents a very strong supply zone. For short positions, I do not open any until the price stabilizes below the support area. 📝 In summary, EUR/CAD is currently in a ranging phase between the 0.382 Fibonacci level and the 1.4945 resistance level. Depending on the break above 1.4945 or below 1.4141, there are opportunities for long or short positions, respectively. For those trading in shorter timeframes, key entry triggers and careful risk management are essential to navigate the market effectively. 🧠💼 Always remember the inherent risks in Forex trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a pair you'd like me to analyze next.
by itsparham96
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