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EUR/CAD (OANDA EU Clients)

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EURCAD.PRO.OTMS trade ideas

Sell EURCAD ECB Interest RateThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level of the channel, ideally around 1.4700. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.4656: This represents the first level of support within the channel. 1.4628: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.4720. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_FOREX_TRADING
3
Strategy for EURCAD this Week with CPITaking a look at the 4hr chart, price action stalled out at the 50% zone leaving 100 pip risk/reward (however you look at it) in either direction to the support and resistance levels I chalked up. The most important technical indicator that I'm paying attention to is the fact that we are still getting red arrows on this timeframe. Once we get a green arrow, I'll look to scale down to smaller timeframes and wait for a buy alert. All trades for effective risk management should always start off as a scalp, followed by position management depending on how price action presues. We do have CPI data from both Canada and the Eurozone this week. The forecasts do leave room for potential surprises but considering the fact we just had a BOC and ECB interest rate meeting, I can't foresee any major trends developing with this pair. Nevertheless, this pair is likely to chop around in this range. Upon arriving at either support or resistance, I'll then provide my next analysis. Until Then... Trade Safe - Trade Well All the Best
by Michael_Harding
EURCAD: Quick short opportunity + bonus for long term.EURCAD marginally turned bearish on its 1D technical outlook (RSI = 44.842, MACD = 0.001, ADX = 27.243) as it hit both the 1D MA50 and 1D MA200 today. That is dead neutral on a 15 month basis as the pair has been on a wide ranged price action since the start of 2023. Currently it sits exactly at the middle of this pattern on the 0.5 Fibonacci level. This gives us the opportunity for a quick short term sell on the HL trendline (TP = 1.45750). The HL trendline has always been crossed downwards these 1.5 years so if we see a crossing under the 0.618 Fibonacci, we will sell again and target the 0.786 Fib (TP = 1.43650). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURCAD can be stopped again from the old structure areaEURCAD can be stopped again from the old structure area Technical Analysis: From the previous analysis, EURCAD has failed to break 1.4765. This zone was tested several times in the past and the price then decreased. The price may decrease again from this area since we also have the ECB's rate decision on Thursday. It will be interesting to see how the market reacts ahead of the meeting. A bullish move above 1.4765 would increase the chances of further upside. Downside targets: 1.4665, 1.4565, 1.4480 Bullish targets: 1.4910 PS: I think there is more chance of a bearish wave 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❤️
Short
by KlejdiCuni
4
EURCAD What Next? SELL! My dear subscribers, This is my opinion on the EURCAD next move: The instrument tests an important psychological level 1.4746 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.4680 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURCAD its me to reach the upper trending Resistances.EURCAD its me to reach the upper trending Resistances. Bullish reasons for the EUR/CAD currency pair: 1. Monetary Policy Divergence: The European Central Bank (ECB) and the Bank of Canada (BoC) have different monetary policies. If the ECB maintains a more accommodative stance while the BoC tightens, it could favor the euro against the Canadian dollar. 2. Economic Recovery: As the global economy recovers from the pandemic, both the eurozone and Canada are expected to benefit. Strong economic data can boost the EUR/CAD pair. 3. Oil Prices: Crude oil is a significant export for Canada, and fluctuations in oil prices impact the Canadian dollar. A rise in oil prices could weaken the CAD and strengthen the euro. 4. Risk Sentiment: The euro often acts as a funding currency during times of global economic uncertainty. If risk sentiment improves, investors may move away from safe-haven currencies like the USD and into riskier assets, benefiting the euro. 5. Technical Analysis: From an Elliott wave perspective, the EUR/CAD has been in a bullish impulse since August 2022. Technical traders may find this trend appealing. 6. Interest Rate Expectations: Any divergence in interest rate expectations between the ECB and the BoC can impact the EUR/CAD exchange rate. Higher expected rates in the eurozone can attract investors. 7. Trade Balance: A positive trade balance for the eurozone or Canada can influence their respective currencies. Improving trade balances may favor the euro¹. 8. Political Stability: Political stability in the eurozone or Canada can boost investor confidence and support their currencies. 9 . Eurozone Recovery Fund: The EU's Recovery and Resilience Facility aims to support economic recovery in member states. Positive developments could benefit the euro. 10. Commodity Prices: Apart from oil, other commodities also impact the Canadian dollar. A rise in commodity prices can strengthen the CAD. 11. Inflation Trends: Monitoring inflation rates in both regions is crucial. Higher inflation in the eurozone relative to Canada could favor the euro. 12. Currency Flows: Institutional investors and hedge funds' currency flows can influence exchange rates. Keep an eye on capital flows. 13. Technical Patterns: Chart patterns, moving averages, and other technical indicators can signal bullish trends. Traders often use these for decision-making. 14. Global Economic Growth: A synchronized global economic recovery benefits both the eurozone and Canada, potentially supporting the EUR/CAD pair. 15. Central Bank Communication: Pay attention to statements from the ECB and the BoC. Any hints about future policy changes can impact the exchange rate. 16. Risk Appetite: When risk appetite is high, investors may seek higher-yielding assets, including the euro. Conversely, risk aversion can strengthen safe-haven currencies. 17. Geopolitical Developments: Geopolitical tensions or resolutions can affect investor sentiment and currency movements. 18. Technical Support Levels: Identifying key support levels on the EUR/CAD chart can guide traders. Breakouts above these levels can be bullish signals. 19. Seasonal Factors: Some currencies exhibit seasonal patterns. Analyze historical data to identify any recurring trends. 20. Market Sentiment: Sentiment indicators, such as the Commitment of Traders (COT) report, provide insights into market positioning. Extreme positions can signal potential reversals. NOTE : 📬 COMMENT, ✅LIKE AND ☑️ FOLLOW. THIS CAN HELP ME TO ANALYSE THE MARKET MORE EFFICIENTLY FOR YOU.
by Forex_Analysis_Wing
FX Wars Episode 2 - Attack of the CAD clones!Round 2, Fight! Result Round 1 see here: After my first EURCAD short hit the target and the EURCAD made a nice retracement to the upper edge of the range, I basically enter the same trade again: I split the trade into 2 positions: I short the EURCAD once here directly and at the same time place a limit order at the current range high of 1.51000. I place the take profit at 1.41000. A tasty 1000 pips profit awaits me :) I have already explained the reasons for this in detail in the 1st episode. A summary: Once upon a time, a long, long time ago, there was a confused rebellion by the European Central Bank (ECB). It erred in almost all important matters and plunged the European economy into a severe crisis. The beneficiaries are the renegade followers of the CAD empire, including myself. They are (once again) profiting from the sheer ignorance and short-sightedness of the ignorant ECB Council by shorting the EURCAD. - As predicted back in July, inflation in the eurozone fell far faster than the ECB and the market had expected. - At the same time, eurozone GDP was also far worse than expected (as I had predicted, see commentary of 6 September. - The ECB is (once again) wrong on all counts and is reluctant to utter the forbidden words "interest rate cuts". The most important ECB members do not see the possibility of considering interest rate cuts until the end of 2024 at the earliest -> This is a fallacy and the market will already be discussing interest rate cuts with the ECB at length in Q1 -> I see a high probability that we will be very close to the ECB's first rate cut as early as April 2024. More will of course follow in 2024. To be continued...
Short
by PrimeTrading
10