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EURCAD trade ideas

EURAD 100PIP TKAE PROFIT Support and Resistance Zones Check for recent support or resistance levels. If EUR/CAD is close to a significant resistance and your take-profit target lies just below it, this could indicate a high-probability area for price reversal. A large stop loss (320 pips) may indicate potential volatility. Ensure that this stop is placed below a strong support zone to avoid unnecessary loss on sudden market moves. 2. Market Sentiment and Fundamental Drivers EUR/CAD is heavily influenced by factors such as the European Central Bank (ECB) and Bank of Canada (BoC) monetary policies, as well as commodity prices, particularly oil. Recent EUR or CAD economic data (e.g., inflation reports, interest rate decisions) could give insight into the market’s bias and help determine if a 100-pip target is achievable.
Short
by LORDOFTHETRADERS
4
EURCAD_108 2024.11.05 14:04:04 Trading Signal SELLFrankPro Signal for EURCAD_108 Type: Screen Signal: SELL TP: 1.50705 SL: 1.51297 Entry Price: 1.51223 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Probably Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Up LT=Down ST=Down LT=Up Analysis Method(0) Based on the provided analyses, I will provide separate assessments for short-term and long-term expectations. **Short-term Expectations (next few days):** * The EUR/CAD pair is expected to move within a narrow range, with a slight bias towards a downward movement. * The reversal from the key resistance level of 1.5160 and the Dark Cloud Cover pattern suggest a potential fall to the next support level at 1.5100. * The controlled movements with low volatility and the oversold condition on the RSI14 may lead to a brief drop before turning. * However, the overall trend remains weak, and the pair is closer to the support level at $1.46 than the resistance at $1.47, suggesting a trading risk/reward intra-day. **Expected Price Movement:** Down (but within a narrow range) **Long-term Expectations (next few weeks/months):** * The breakout from the multi-month price pattern and the Fibonacci price projections suggest a potential strong move higher. * The bullish engulfing candle on the daily chart and the wave analysis indicate a promising outlook for continued upward movement. * The target for buying on dips is around 1.5200, and a break above 1.5172 could lead to targets at 1.5228 and potentially 1.5312. **Expected Price Movement:** Up (with a potential strong move higher) In summary, while the short-term expectations suggest a potential downward movement within a narrow range, the long-term expectations indicate a potential strong move higher. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my conclusions for the EUR/CAD currency pair: **Short-term analysis (next few days/week):** * The breakout above the multi-month price pattern and the bullish MACD indicator suggest a potential short-term uptrend. * However, the bearish close and the potential two-bar reversal pattern indicate a possible short-term correction. * The oversold RSI14 indicator also suggests a potential short-term bounce. * Therefore, I expect the price to **go up** in the short-term, but with a possible brief correction. **Long-term analysis (next few months/year):** * The forecasts suggest a decline in price over the next quarter and year, which contradicts the short-term bullish outlook. * The horizontal trend and the resistance levels at $1.47 and $1.48 also suggest a more negative long-term forecast. * However, the long-term Moving Averages are not providing a clear signal, and the general risk is considered low. * Therefore, I expect the price to **go down** in the long-term, but with a possible range-bound movement between $1.48 and $1.51. Overall, the analysis suggests a potential short-term uptrend, but a more negative long-term outlook. Result: ST=Up LT=Down Analysis Method(2) Based on the provided analyses, here is my assessment of the EUR/CAD currency pair's expected price movement in both the short-term and long-term: **Short-term Analysis (next few days to a week)** * The presence of a strong bullish engulfing candle on the daily chart, as noted in the TradingView Analysis, suggests a potential for upward movement. * However, the Wave Analysis indicates a reversal down from the key resistance level of 1.5160, which could lead to a fall to the next support level at 1.5100. * The Breakout and Pattern Analysis suggests a bullish sign with a potential break above 1.5172, but also warns of a possible two-bar reversal pattern indicating a temporary correction. Given these mixed signals, I expect the price to be volatile in the short-term, with a slight bias towards a downward correction. The price might fall to the support level around 1.5100 before potentially rebounding. **Long-term Analysis (weeks to months)** * The Breakout and Pattern Analysis suggests a bullish sign with a potential strong move higher if the price follows through above 1.5172. * The General Outlook mentions that the MACD momentum indicator supports a bullish outlook, which could indicate a longer-term upward trend. * However, the presence of potential resistance levels and the possibility of the pair being oversold on some indicators could lead to corrections along the way. In the long-term, I expect the price to trend upwards, potentially reaching the targets mentioned in the Breakout and Pattern Analysis (1.5228 and 1.5312). However, this move is likely to be accompanied by corrections and potential pullbacks to support levels. In summary: * Short-term: Expected to go down (slight bias towards a downward correction) * Long-term: Expected to go up (with potential corrections along the way) Result: ST=Down LT=Up
Short
by frankiepro
EURCAD_110 2024.11.05 12:30:05 Trading Signal SELLFrankPro Signal for EURCAD_110 Type: Screen Signal: SELL TP: 1.50817 SL: 1.51313 Entry Price: 1.51251 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Probably Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Up LT=Down ST=Down LT=Up Analysis Method(0) Based on the provided analyses, I will provide separate assessments for short-term and long-term expectations. **Short-term Expectations (next few days):** * The EUR/CAD pair is expected to move within a narrow range, with a slight bias towards a downward movement. * The reversal from the key resistance level of 1.5160 and the Dark Cloud Cover pattern suggest a potential fall to the next support level at 1.5100. * The controlled movements with low volatility and the oversold condition on the RSI14 may lead to a brief drop before turning. * However, the overall trend remains weak, and the pair is closer to the support level at $1.46 than the resistance at $1.47, suggesting a trading risk/reward intra-day. **Expected Price Movement:** Down (but within a narrow range) **Long-term Expectations (next few weeks/months):** * The breakout from the multi-month price pattern and the Fibonacci price projections suggest a potential strong move higher. * The bullish engulfing candle on the daily chart and the wave analysis indicate a promising outlook for continued upward movement. * The target for buying on dips is around 1.5200, and a break above 1.5172 could lead to targets at 1.5228 and potentially 1.5312. **Expected Price Movement:** Up (with a potential strong move higher) In summary, while the short-term expectations suggest a potential downward movement within a narrow range, the long-term expectations indicate a potential strong move higher. Result: ST=Down LT=Up Analysis Method(1) Based on the analysis, here are my conclusions for the EUR/CAD currency pair: **Short-term analysis (next few days/week):** * The breakout above the multi-month price pattern and the bullish MACD indicator suggest a potential short-term uptrend. * However, the bearish close and the potential two-bar reversal pattern indicate a possible short-term correction. * The oversold RSI14 indicator also suggests a potential short-term bounce. * Therefore, I expect the price to **go up** in the short-term, but with a possible brief correction. **Long-term analysis (next few months/year):** * The forecasts suggest a decline in price over the next quarter and year, which contradicts the short-term bullish outlook. * The horizontal trend and the resistance levels at $1.47 and $1.48 also suggest a more negative long-term forecast. * However, the long-term Moving Averages are not providing a clear signal, and the general risk is considered low. * Therefore, I expect the price to **go down** in the long-term, but with a possible range-bound movement between $1.48 and $1.51. Overall, the analysis suggests a potential short-term uptrend, but a more negative long-term outlook. Result: ST=Up LT=Down Analysis Method(2) Based on the provided analyses, here is my assessment of the EUR/CAD currency pair's expected price movement in both the short-term and long-term: **Short-term Analysis (next few days to a week)** * The presence of a strong bullish engulfing candle on the daily chart, as noted in the TradingView Analysis, suggests a potential for upward movement. * However, the Wave Analysis indicates a reversal down from the key resistance level of 1.5160, which could lead to a fall to the next support level at 1.5100. * The Breakout and Pattern Analysis suggests a bullish sign with a potential break above 1.5172, but also warns of a possible two-bar reversal pattern indicating a temporary correction. Given these mixed signals, I expect the price to be volatile in the short-term, with a slight bias towards a downward correction. The price might fall to the support level around 1.5100 before potentially rebounding. **Long-term Analysis (weeks to months)** * The Breakout and Pattern Analysis suggests a bullish sign with a potential strong move higher if the price follows through above 1.5172. * The General Outlook mentions that the MACD momentum indicator supports a bullish outlook, which could indicate a longer-term upward trend. * However, the presence of potential resistance levels and the possibility of the pair being oversold on some indicators could lead to corrections along the way. In the long-term, I expect the price to trend upwards, potentially reaching the targets mentioned in the Breakout and Pattern Analysis (1.5228 and 1.5312). However, this move is likely to be accompanied by corrections and potential pullbacks to support levels. In summary: * Short-term: Expected to go down (slight bias towards a downward correction) * Long-term: Expected to go up (with potential corrections along the way) Result: ST=Down LT=Up
Short
by frankiepro
EURCAD Is Very Bullish! Long! Please, check our technical outlook for EURCAD. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 1.512. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 1.516 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURCAD Wave Analysis 4 November 2024 - EURCAD reversed key resistance level 1.5160 - Likely to fall to support level 1.5100 EURCAD currency pair recently reversed down from the key resistance level 1.5160 (which has been steadily reversing the price from the start of August as can be seen below), strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level created the daily Japanese candlesticks reversal pattern Dark Cloud Cover – which marked the end of the previous ACB correction 2. Given the strength of the resistance level 1.5160 and the overbought daily Stochastic, EURCAD currency pair can be expected to fall to the next support level 1.5100, the former resistance from October.
Short
by FxProGlobal
EUR/CAD Approaches Key Resistance Level on the Daily ChartEUR/CAD is currently trading near its highest resistance level since 2021, around 1.5200. This price zone has been tested multiple times in recent months, indicating strong resistance that the market has struggled to overcome. The repeated testing without a definitive breakout suggests that selling pressure may be building, which could lead to a reversal if the support below is breached. Key Resistance at 1.5200: This resistance level has been challenged several times, establishing it as an important psychological barrier in the market. The ongoing difficulty in breaking through this area supports the notion that a retracement could occur in the coming weeks. Support at 1.5075 (Potential Trigger Level): The 1.5075 level is identified as a significant support point in the short term. If the price drops below this level, it could generate considerable selling pressure, indicating that the pair has lost critical support and triggering potential short positions. Potential Selling Opportunities: Given the recent behavior of testing resistance and the absence of a sustained breakout to the upside, the current market structure suggests a possible sell-off. The trading plan may include: Short Entry: A short position could be considered if the price breaks below 1.5075, confirming the loss of support and signaling a potential reversal. Upon this breach, EUR/CAD could decline towards the 1.4900 level, where another crucial support area exists on the daily chart. Alternative Scenario: Conversely, EUR/CAD remains in an uptrend (as indicated by the black trendline on the chart), suggesting that a breakout above the 1.5200 resistance might still occur. If this level is surpassed and the price maintains above it, EUR/CAD may transition into a new price range. In this scenario, the current resistance might turn into support, with the potential for EUR/CAD to rise towards the 1.5350 region in the coming days, where additional resistance can be anticipated on the daily chart. Caution Against Fake Breakouts: Levels of resistance in EUR/CAD present ideal scenarios for fake breakouts that can lead many traders to incur losses. A fake breakout occurs when the price temporarily breaks above or below a relevant level, only to reverse quickly, misleading traders. These often manifest as candles with large wicks or tails. Therefore, it is crucial to seek confirmation before entering a trade to mitigate the risk of getting caught in such false movements. Monitoring Key Levels In summary, as EUR/CAD approaches significant resistance at 1.5200, traders should carefully monitor both resistance and support levels. A prudent approach will involve waiting for confirmation of price movements before entering positions, particularly in the context of potential fake breakouts. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
by Marketscom
COUNTER-TREND TRADING...SAFE OR RISKY?....EURCAD LIVE EXAMPLEWhat is going on everybody! Hope you are having an amazing weekend so far! Just wanted to come on here and speak a little bit about one of my favorite trading subjects which is counter-trend trading! I personally do counter-trend trading as one of my trading strategies so I wanted to come on here and share a real life example of some things I look for and the mentality behind trading against the current trend of price Hope you guys enjoy! Please boost and follow my page for more breakdowns! Appreciate you all! Cheers!
by JosePips
6
EURCAD What Next? SELL! My dear subscribers, EURCAD looks like it will make a good move, and here are the details: The market is trading on 1.5128 pivot level. Bias - Bearish My Stop Loss - 1.5169 Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.5066 About Used Indicators: The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURCAD Will Go Down From Resistance! Short! Here is our detailed technical review for EURCAD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.513. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.509 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!
Short
by SignalProvider
1
EURCAD_101 2024.11.01 08:33:04 Trading Signal BUYFrankPro Signal for EURCAD_101 Type: Screen Signal: BUY TP: 1.51558 SL: 1.51246 Entry Price: 1.51294 Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST= Probably Up LT= Probably Up Forecast Methods(Short-Term, Long-Term): ST=Up LT=Up ST=Up LT=Up ST=Same LT=Same Analysis Method(0) Based on the provided analysis, here are my conclusions for the EUR/CAD currency pair: **Short-term (next few days/weeks):** * The pair is expected to test the resistance zone around 1.5000, which could lead to a rollback towards support levels. * A decisive bullish breakout above 1.5026 could suggest the end of the downtrend. * The trend appears to be up on the four-hour and one-hour charts, with intraday support at 1.14928. * Considering these points, I expect the price to **go up** in the short-term, potentially breaking out above 1.5026. **Long-term (next few months):** * Both the ECB and BoC are expected to cut interest rates, which could influence the EUR/CAD pair. * The ECB's potential aggressive rate cut could provide upside for EUR/CAD. * The Canadian Dollar is facing downside pressure due to external factors such as the US election risk and lower Crude Oil prices. * Considering these points, I expect the price to **go up** in the long-term, as the ECB's rate cut and external factors could bias EUR/CAD to rise. Overall, both short-term and long-term analyses suggest that the EUR/CAD pair is expected to go up, driven by the potential ECB rate cut, external factors affecting the Canadian Dollar, and the current technical setup. Result: ST=Up LT=Up Analysis Method(1) Based on the analysis of the provided data, here are the expected price movements for the EUR/CAD currency pair: **Short-term (next few days to a week):** * The price is expected to **go up** slightly in the short term, with a daily high forecast of $1.509578 for October 31, 2024. * However, there is a prediction that the EUR/CAD rate might **fall** to around $1.493272 in the next week. **Long-term (next month to a year):** * The price is expected to **stay the same** with minimal changes in November 2024, with a forecasted range between 1.502 and 1.509. * Looking ahead to 2025, the EUR/CAD rate is forecasted to **go up** slightly, with a predicted rate of around 1.510 in October 2025. It's worth noting that the market sentiment is currently bearish, but technical indicators show mixed signals, which may indicate some uncertainty in the market. The 14-day RSI is neutral, and the current rate is above the 200-day SMA but below the 50-day SMA, which may suggest a potential reversal or consolidation in the short term. Result: ST=Up LT=Up Analysis Method(2) Based on the analysis provided, here are my conclusions: **Short-term (next few days):** The price is expected to **stay the same** with a slight fluctuation. The predicted range of 1.453 to 1.542 suggests a relatively stable market with minor price movements. **Long-term (remainder of 2024 and into 2025):** The price is expected to **stay the same** with no significant downtrend or uptrend predicted. The overall trend is stable with minor fluctuations. It's worth noting that the forecast for November 2024 suggests a slight increase in the rate, but this is not a strong indication of a major uptrend. Overall, the analysis suggests a stable market with minor price movements in both the short-term and long-term. Result: ST=Same LT=Same
Long
by orbborisson
EUR/CAD at Key Support: Rebound or Further Decline?EURCAD is currently trading at 1.4900, which is a key support level. From this point, the price has the potential to move upwards, targeting the 1.5160 level. However, if this support level is broken, there is an increased likelihood that the price will continue to decline, potentially falling further until it reaches the Trendline Support. Traders should closely monitor the current levels, as any significant move in either direction could signal a shift in the trend and provide trading opportunities. Staying alert to price action around this support level is crucial for making informed decisions.
by FXTradingAnalysis
2