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EURCAD trade ideas

EUR/CAD Testing Support: Pullback or Continuation?Alright traders, let’s break down the EUR/CAD 4H chart. The current price is around 1.50117, just above the 21 EMA at 1.49909. While we've been in a solid uptrend since mid-July, the price is now showing signs of a potential pullback, having tested the resistance level at 1.50350 and pulling back slightly. Market Structure Analysis: Current Trend: The market has been in an uptrend, but a pullback is currently underway. Key Levels: Immediate support at 1.50008 and the 21 EMA at 1.49909. Resistance remains at 1.50350. EMA Positioning: The price is still above the 21 EMA, indicating overall bullish momentum, but watch closely as the price approaches this support level. Potential Scenarios: Bullish Continuation: Entry Point: Look for a strong bullish reversal candle off the 21 EMA or above 1.50008. Stop-Loss: Place your stop-loss just below the 21 EMA at around 1.49750 to manage risk. Take-Profit: Set your first take-profit level at 1.50350 and a second target at 1.51000 if the bullish momentum continues. Bearish Pullback: If the price breaks and closes below the 21 EMA and the support at 1.50008, it could signal a deeper pullback. In this case, watch for the next support level around 1.49750 for potential buying opportunities or consider short positions targeting the lower support. Given the current setup, I'm leaning towards monitoring the 21 EMA and 1.50008 support level closely. A strong bounce off these levels will confirm a continuation of the bullish trend, while a break below could indicate a deeper pullback. Stay sharp, manage your risk, and trade smart.
by SheenaL
Setup Sunday 28-07Hello Traders! Here is another Setup Sunday from my side.\ The market was very very good for my strategy in the last 10 weeks, overall a lot of profits have been made. Right now it's back into a big correction overall, so you will see a lot of red pairs in this video. But no worries, I will also show some good potentials and my expectations in the next 1-2 weeks of the red pairs that might still be very very potential later on :) Good luck everyone! Happy trading! :D
by stefann187
EURCAD Possible Long Position BBMA OA ReEntry Zone Zero Loss4H - Re-Entry 1H - 50 EMA Rejection + Bollinger Band Rejection 15m - Entry in MAHILO Note: * Cancel trade or cut-loss when candle close Below MALO (2 Red Color Lines) in 4H and look for possible reentry again (if possible ) in the same direction again * 1:3 RRR * TAYOR A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
Long
by GreggiBond
Lingrid | EURCAD divergence at the RESISTANCE. ShortThe price action has rebounded from the resistance zone and formed a divergence at this level. Currently, the price is testing the key resistance at 1.5000, having recently formed a false breakout by taking liquidity above it. On the weekly timeframe the market reached the supply area where the price bounced off twice. I anticipate a retest of the main resistance before rolling back toward the support level. My goal is the support level at 1.49520 Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
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