EURCAD - Support Becomes ResistanceHello Traders !
On the daily time frame, The EURCAD broke the support level.
This key level becomes a new resistance level !
So, I expect a bearish move📉
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TARGET: 1.47480🎯
About Euro / Canadian Dollar
The Euro vs. the Canadian Dollar. The Euro is the second most popular reserve currency in the world and is considered to be very stable. The Canadian dollar is the seventh most commonly traded currency in the world and is highly dependent on Canada’s exporting of its natural resources, especially oil.
EURCAD scenario for a recovery to 1.49000EURCAD potential short-term recovery to 1.49000 level. We see a slight breakout of the downtrend and transition into a sideways trend. Now, we need a stronger bullish momentum for our bullish scenario. We will go to a new November low if that does not happen.
EURCAD FORECASTTraders, this pair is looking promising. The price shows that it has failed to continue pushing to the upside after failing to break the potential highs and closing above. It has given us the indication that it is likely to drop to the downside after breaking all lows impusively, guys whenever we ha
2 OportunitiesTesting oportunities ...
Possible bear on retest and bull on order block going on the way for a new top
EURCAD - Potential short !!Hello traders!
‼️ This is my perspective on EURCAD.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. My point of interest is imbalance filled and rejection from bearish OB + level 1.49000.
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EURCAD Turning bearishI've seen enough confirmation for me to enter a sell. Strong support was broken and price has retested it today. Formed a rising pennant on H1/M30 and broke it. Also giving us a double top on H1. If this pair doesn't drop then there's some crazy voodoo spell going on. Check it out if you can also se
EURCAD Wave Analysis 19 November 2024
- EURCAD reversed from resistance level 1.4885
- Likely to fall to support level 1.4750
EURCAD currency pair recently reversed down from the resistance level 1.4885 (which is the lower border of the wide sideways price range inside which the pair has been trading from July, acting as the resistanc
EURCAD bullish scenarioEURCAD has a chance to continue its recovery this week. Now, we need momentum and a bounce above Friday's high, as well as the EMA 200 moving average. After that, the pair should return above 1.49000 and try to continue towards 1.50000.
Heading into pullback resistance?EUR/CAD is rising towards the pivot and could reverse to the 1st support.
Pivot: 1.48819
1st Support: 1.47444
1st Resistance: 1.49827
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Frequently Asked Questions
The value of the EURCAD pair is quoted as 1 EUR per x CAD. For example, if the pair is trading at 1.50, it means it takes 1.5 CAD to buy 1 EUR.
EURCAD is a minor currency pair, i.e. a popular pair that is not associated with USD. Such pairs are also called cross currency pairs.
Currencies are usually traded through forex brokers — choose the one that suits your needs and go ahead. You can trade EURCAD right from TradingView charts — just log in to you broker account. Check out the list of our integrated brokers and find the best one for your needs and strategy.