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Canadian Dollar/Euro

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EURCAD:Key Level and French Election ImpactHello Traders, In today's trading session, we're closely monitoring EUR/CAD for a potential selling opportunity around the 1.48100 zone. The pair had been in an uptrend but recently broke out of it, entering a correction phase. It is now approaching the 1.48100 area, which acts as a key support and resistance zone. On the fundamental side, the recent EU parliamentary elections in France resulted in a significant majority for a far-right candidate, who has historically advocated for France to leave the EU. This development has weakened the EUR. Moreover, President Macron's decision to call for an early French election has heightened political instability, posing additional risks to the EUR. Stay vigilant and trade safe, Joe
Short
by JoeChampion
EURCAD potential 400PIPS!! SELL opportunityEUR/CAD is setting up for a lucrative short trade as it retraces to test the descending trend line resistance around the 1.4950 region. This technical pattern suggests a high-probability reversal, where traders can look for bearish entries. Target the first take-profit (TP1) at the immediate support level of 1.4700, and if the bearish momentum continues, aim for TP2 at the significant support zone around 1.4450. This confluence of trend line resistance and key support levels creates a compelling sell setup, perfect for traders looking to capitalize on EUR/CAD's anticipated downtrend. Enter short near 1.4950 with a stop loss above the trend line, maximizing profit potential as the price targets lower support zones!
Short
by akumjoel
EURCAD: May Test 1.5000 SoonEURCAD: May Test 1.5000 Soon LONG - Inverse Head & Shoulders Pattern From our previous analysis, EURCAD broke out from the neckline of the pattern and it is still rising. The price already reached the first target as you can see on the previous idea below. Any small correction is possible before EURCAD resumes the bullish trend again. EURCAD may test 1.5000 soon You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️ Previous analysis:
Long
by KlejdiCuni
1
idea on a zone This is a pair i dont trade but but 61.8 fib and a great order block looks interesting It sounds like you're analyzing a currency pair that you typically don't trade, but you’ve identified a 61.8 Fibonacci retracement level along with a significant order block that you find interesting. Let's break down how you might approach this setup: Fibonacci Retracement: The 61.8% retracement level is often regarded as a strong level of support or resistance in technical analysis. If the price is approaching this level, it might indicate a potential reversal or a strong continuation of the trend. Order Block: An order block is an area where there is a concentration of buy or sell orders, typically by large institutions. Identifying an order block near the 61.8% Fibonacci level can add confluence to your analysis, suggesting a higher probability of a significant price reaction. Trading Plan: Identify the Pair: Confirm which currency pair you are analyzing. Ensure you have historical data and understand the pair’s typical behavior. Set Up Your Chart: Plot the Fibonacci retracement levels from the most recent significant high to low (or low to high in an uptrend). Identify and mark the order block on your chart. Analyze the Price Action: Look for confirmation signals such as candlestick patterns, volume spikes, or other technical indicators near the 61.8% level and the order block. Consider the overall trend and market conditions. Are you in a larger uptrend, downtrend, or range-bound market? Plan Your Trade: Entry: Decide if you will enter at the 61.8% level, within the order block, or wait for additional confirmation. Stop-Loss: Place your stop-loss order at a logical level beyond the order block to protect against unexpected volatility. Take-Profit: Determine your target based on the next levels of support/resistance, or use a risk-reward ratio.
by EZIO-FX
Could 1.50 Resistance Spark Another 1,000 Pip Drop?The EURCAD pair has been steadily rising since the beginning of the year. After a brief stall at the 1.48 weekly resistance, which was broken last month, we have seen a drop and retest of this level, now acting as support. Price has already surpassed last month’s high this week. So, what’s next? The most logical next target for bulls is the 1.50 resistance, a historically tough level to break over the past four years. Each attempt to move past it resulted in the weekly candle closing below the level. If you read a previous idea I posted last year on this pair we sold at the exact same level In fact if you zoom into the daily charts we can see that price is actually stuck in a near 1,000 pip daily range between 1.51 and 1.42 (see image below) I expect price to move up into the top of the range between 1.50 and 1.51. At this point, I will look for sell signals using my TRFX indicator or signs of slowing momentum on lower time frames. To identify slowing momentum, I examine lower time frame charts (4-hour to daily) for price transitioning into a sideways movement pattern as it approaches the sell zone. Divergence signals on the MACD are particularly useful for spotting this momentum shift. My first target for this position is the previous resistance, now support, slightly below 1.48. Price may see a short bounce at this level and possibly retest 1.50, where we can enter another sell signal. Next, I target a move down to February’s weekly swing low at 1.45, followed by a move to the bottom of the range at 1.42. The likely path is charted below. For this trade to be invalidated, we would need to see a weekly or monthly close well above 1.50, indicating buyers aiming for mid-1.50 levels. Given past reactions at 1.50 and the significance of this high time frame (HTF) level, a sell position is the most realistic approach for now. Let me know your thoughts below.
Short
by TheFxAce
9
A well setup chart is mandatory!I cannot describe in words how frustrated i was setting up charts just the way i like it.. Not able to find the right indicators, not working properly, none existing and so Forth.. Im new to the platform (1 year) and my trading journey is about to kick off... But i couldn't prepare properly for my next adventure, because my charts were a mess and not to my liking.. But how the tide have turned today good people! I was ready to give up and try meta trader 4 instead, to bring in perspective how frustrated i was haha.. So the idea behind this post, make aure your charts are clear and ready for action don't use to much nonsense and go for it! "May the markets go with you" ;) Have a good one y'all
by TimosVDam