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Canadian Dollar/Euro

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CADEUR trade ideas

EUR/CADCertainly, here's a summary of support and resistance with key points: 1. **Support:** - Support is a price level where buying interest typically emerges, preventing the price from falling further. - It indicates a zone where demand for the asset outweighs the selling pressure. - Traders often see support levels as opportunities to buy or enter long positions. - When the price approaches a support level, it may bounce off and begin to rise. 2. **Resistance:** - Resistance is a price level where selling interest typically increases, preventing the price from rising further. - It represents a zone where supply of the asset outweighs buying pressure. - Traders often view resistance levels as opportunities to sell or enter short positions. - When the price approaches a resistance level, it may struggle to break through and could reverse direction. 3. **Key Concepts:** - Support and resistance levels are not exact prices but rather zones or ranges where buying or selling interest is concentrated. - These levels are identified using various technical analysis tools such as trendlines, moving averages, Fibonacci retracement levels, and chart patterns. - Support and resistance levels are used by traders to determine entry and exit points, set stop-loss orders, and manage risk. - They may shift over time and can be breached if there is a significant change in market sentiment or fundamental factors. - Breached support levels may become new resistance levels, and vice versa. Understanding support and resistance levels helps traders make informed decisions in trading by identifying potential areas of buying and selling interest, thereby assisting in risk management and trade timing.
Short
by B9A-88652-NisarAhmad
EUR/CADCertainly, here's a summary of support and resistance with key points: 1. **Support:** - Support is a price level where buying interest typically emerges, preventing the price from falling further. - It indicates a zone where demand for the asset outweighs the selling pressure. - Traders often see support levels as opportunities to buy or enter long positions. - When the price approaches a support level, it may bounce off and begin to rise. 2. **Resistance:** - Resistance is a price level where selling interest typically increases, preventing the price from rising further. - It represents a zone where supply of the asset outweighs buying pressure. - Traders often view resistance levels as opportunities to sell or enter short positions. - When the price approaches a resistance level, it may struggle to break through and could reverse direction. 3. **Key Concepts:** - Support and resistance levels are not exact prices but rather zones or ranges where buying or selling interest is concentrated. - These levels are identified using various technical analysis tools such as trendlines, moving averages, Fibonacci retracement levels, and chart patterns. - Support and resistance levels are used by traders to determine entry and exit points, set stop-loss orders, and manage risk. - They may shift over time and can be breached if there is a significant change in market sentiment or fundamental factors. - Breached support levels may become new resistance levels, and vice versa. Understanding support and resistance levels helps traders make informed decisions in trading by identifying potential areas of buying and selling interest, thereby assisting in risk management and trade timing.
Short
by B9A-88652-NisarAhmad
Potential bullish breakoutPrice has broken out of an overlap resistance level which aligns with the 61.8% Fibonacci retracement and could rise from this level to our take profit Entry: 1.46630 Why we like it: There is an overlap resistance level which aligns with the 61.8% Fibonacci retracement Stop loss: 1.46258 Why we like it: There is an overlap support level Take profit: 1.47338 Why we like it: There is a pullback resistance level 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
EURCAD Will Move Higher! Buy! Here is our detailed technical review for EURCAD. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 1.460. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.464 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Bad EU data momentum trade (Apr 3)Fundamentals & Sentiment EUR: There was a lower than consensus Inflation data and a bad Unemployment print. I use these as triggers for a short-term momentum trade. CAD: Canadian economy is doing better than EU based on the main economic indicators. CAD is undervalued based on a few market internals (not EURCAD pairs though) Technical & Other Setup: S(RTF) Setup timeframe: 1h Trigger: 1h Medium term: Down Long-term: Range Min target: April 2 low Risk: 0.27% Other: expected a rejection from the heavy MAs
Short
by Cherry94