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Canadian Dollar/Euro

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EUR/CAD Day Trading Analysis 📋On EUR/CAD, it's nice to see a strong sell-off from the price of 1.48640. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend combined with the strong volume area along with strong rejection of higher prices are my main reasons for this short trade. Happy trading, Dale
by Trader_Dale
1
EURCAD: Head and shoulders pattern indicating further move upEURCAD: Head and shoulders pattern indicating further move up Price completed and confirmed an Inverse Head & Shoulders pattern. This pattern usually indicates a change in trend direction. The price broke out of the neckline of the pattern thus indicating the possibility for further growth. However, in order for this pattern to be strong, the price should develop and hold above its neckline, otherwise, it may result in a failed breakout. I am expecting the price to reach 1.5000 in the coming days. 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❤️
Long
by KlejdiCuni
4
EURCAD Short-term buy signal.The EURCAD pair has been trading within a Channel Down for the past 15 months and right now is on a Bullish Leg towards its top. The 1D RSI is approaching the overbought barrier of 70.00 and we believe it will give a sell signal after it breaks above, just like November 21 2023 and July 14 2023. Until then, we will stay bullish, targeting the top of the 15-month Channel Down at 1.49750. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
EURCAD Is Very Bullish! Buy! Please, check our technical outlook for EURCAD. Time Frame: 3h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 1.482. The above observations make me that the market will inevitably achieve 1.485 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURCAD - 4hrs ( Buy Trade Target Range 150 PIP ) Pair Name : EUR/CAD 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— Bullish Break 1.46900 Area Reasons - Major Turn level - Channel Break - Day + week High Break - inner choch - Fibo GOlden - Visible Range Lvn Bearish Reversal 1.49150 Area Reasons - Major Turn level - Pattern Upper Band - Quarters Area - Choch Zone - Fixed range hvn - Fibo Golden
Long
by GoldenEngine
2
EURCAD: Anticipating triangle formation and bullish breakoutHello traders, Here is my detailed long-term Market analysis of EURCAD. This is intended to educate those who might be new or at their intermediate level in Elliott wave theory. The EURCAD currency pair is currently exhibiting a sideways trend, which is characterized by relatively stable price movement within a confined range. This type of market behavior often precedes significant price movements once the consolidation phase ends. Analysis Highlights 1. Sideways Range and Potential Triangle Pattern Sideways Range : The EURCAD pair has been trading within a horizontal range, indicating a period of consolidation where neither bulls nor bears have a definitive upper hand. Triangle Pattern Formation : This range is likely forming a triangle pattern. In Elliott Wave Theory, a triangle is a corrective wave pattern typically observed in wave (B) of a zigzag correction or wave 4 in an impulse wave sequence. Wave (B) of Zigzag : The ongoing formation suggests that the triangle could be wave (B) of a larger zigzag pattern, which generally consists of three waves: A, B, and C. The zigzag pattern typically appears in a corrective phase. 2. Anticipated Impulsive Upward Move Completion of the Triangle : Once the triangle pattern completes, it is expected to be followed by an impulsive wave (C). This is typically a strong, directional move which would be upward in this case. Confirmation : For the bullish outlook to be validated, the completion of the triangle pattern in all its constituent waves (labeled A, B, C, D, and E) is crucial. 3. Key Points for a Bullish Outlook Triangle Completion : Wait for the triangle pattern to fully form, completing all its waves. Breakout Confirmation : Look for a breakout above the triangle's upper boundary and a key resistance level. 4. Target and invalidation levels 1.62284 Level: The minimum target for the anticipated upward wave. Invalidation level: When price move below wave C of the triangle. I hope this helps. Cheers and happy trading!
Long
by Samuel124
📈 EUR/CAD Breakout Play on the 4-Hour ChartHey traders, let’s dive into EUR/CAD as we see some intriguing action on the 4-hour timeframe. We’re eyeing a potential breakout, so here’s the scoop: ✅ Breakout Potential: The pair is tightening up, forming what seems to be an ascending triangle pattern, pushing against the yellow resistance line at 1.48185. A decisive breakout above this resistance could set up a nice move. Watch for a solid 4-hour candle close above this level to confirm bullish intent. 🔍 Entry Point: If we get our breakout, the entry would be just above the 1.48185 mark, post-confirmation. 🛑 Stop-Loss: To keep things tight, consider placing a stop-loss just below the most recent swing low at around 1.47717 to minimize risk. 🎯 Take Profit: Initial profit targets might look towards the next significant resistance level marked at 1.48590. If the momentum holds, the upper yellow line could be the next stop. 📉 Market Sentiment: Keep an eye on overall market sentiment and any news affecting the Euro or Canadian Dollar, as these could influence price action significantly.
Long
by SheenaL