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EURCAD trade ideas

EURCAD - Return to Previous LevelsWe had a bit of a mad Monday morning Everything went Spikey up or Down opposite of perceived direction. So they will and are all retracing and heading back to where they once began. Current Economic Indicators Eurozone: Facing sluggish growth and lower-than-expected economic data. Canada: Stronger GDP growth and positive economic indicators, coupled with higher commodity prices. Technical Analysis Support and Resistance Levels: EURCAD has broken below key support levels and is showing a bearish trend on the technical charts. Moving Averages: The pair is trading below major moving averages, indicating a potential continuation of the downward trend. Recommendation and Probability Given the current economic conditions, interest rate differentials, and technical indicators, there is a high probability (approximately 70-80%) that the EURCAD pair will continue to head lower in the near term. Conclusion The EURCAD is expected to decline due to a combination of economic divergence between the Eurozone and Canada, interest rate differentials, stronger commodity prices benefiting Canada, and bearish technical indicators.
Short
by NZ_Shareman
SHORT EUR/CAD from 1.5170EUR/CAD has pushed higher having bounced off the 61.8 Fibonacci high of 1/3/2018 and low of 21/8/2012. H4 time frame. The last H4 candle was a doji indecision and the current H4 candle is a bearish pinbar though this has yet to close. RSI on H4 is now reading 70 declining from 81. The red SELL line of the Andean Oscillator is now reading .0007 and was 0.0000 whilst the green BUY line is beginning to decline. The MACD Fast MA is beginning to flatten off and I expect this to head south. H1 time frame. H1 sees The Andean SELL line rising strongly and RSI declining and about to cross the blue signal line. MACD sees the Fast MA crossed south over the slow MA. RSI is readin 56.3 - was over 85. All the signs are that this pair is headed lower. I have a SHORT trade from 1.5170 with a STOP above the high. Target is open but 1.4673 is a potential long term target.
Short
by forextraplaces
EUR/CAD Price Forecast: Bullish continuation pattern formingWithin a 100K Account Balance the split on Trade & Risk Management = 1/10% - 1/20% margin as an Execution Range, to set up an Order Entry and select a per Trade on Average, to avoid any drawdown hit regarding to Stop Loss & to execute Risk on Management Specifics. Trail Stop efforts are a Focus of Attention to the set up in general when Volatile-Price-Action is involved, mainly because of the usage of an Intraday-Scalp-Position tool on behalf on the Trade Plan in general Key indicators on Trade Set Up in general; 1. Push Set Up 2. Range Set Up 3. Break & Retest Set Up Active Sessions on Relevant Range & Elemented Probabilities; * Asian(Ranging) - London(Upwards) - NYC(Downwards) * Weekend Crypto Session -EUR/CAD is tipped to go higher if a bullish continuation pattern completes -The price pattern is enhanced by the ADX indicator rising strongly above 20 -EUR/CAD could reach 1.5000 and beyond if it continues bullish momentum -EUR/CAD is rising strongly as diverging interest-rate expectations favor the Euro(EUR) over the Canadian Dollar(CAD) The Average Directional Indicator (ADX) is used to assess the strength of the trend and it is rising at above 20 further confirming the likelihood of the bull trend continuing If the pattern completes – as looks highly likely – the pair will probably rise to roughly 1.5000, where it will encounter resistance. It is also possible it could continue even higher to the resistance line at 1.5040. A decline below 1.4839, however, would invalidate the pattern Conclusion | Trade Plan Execution & Risk Management on Demand; EUR/CAD Price Analysis: Probably completing a large Symmetrical Triangle
Long
by jasper16231
1
EURCAD at SUPPLY EURCAD has been consolidating in a Rectangular Pattern since mid-July 2024. Roughly a 100pip range. A breakout took place (Consolidation and Nov 23 Swing high) on the last trading day, where Buyers take control and move price 180+ pips in 4 candles. From a Volume Spread perspective the last 4 candles are of interest. The First Candle is Green, which signifies average volume, and has a spread of 40 pips. The Second Candle is also Green with a much larger spread of 89 pips. The Third Candle is Yellow, which signifies high volume. But it only has a spread of 39 pips. The Fourth Candle is Green with a spread of only 11 pips. The VSA is in confirmation of the Rally and the trending candles, but it warns that Sellers are nearby. We have to look back to April 21 to spot the Supply Zone, where Sellers last took control at the price level. For the coming week, looking for Price Action to respect this Supply Zone and retrace back into consolidation for a mitigation of the Fresh Demand Zone. With Price above the 200 MAV and alignment of the 20/50/200 MAV on the HTF, the outlook remains Bullish.
by Umlingo
EURCAD-27% WEEKLY HIT, RISING WEDGE-SHORT NOW, OR SL HUNT FIRST?A rising wedge is a technical analysis pattern in trading that typically signals a potential reversal in the current price trend. It is characterized by a price pattern where the highs and lows of the price action converge, forming an upward-sloping, narrowing range. Here's a detailed explanation: Characteristics of a Rising Wedge Formation: The rising wedge forms when the price makes higher highs and higher lows, but the slope of the lows is steeper than the slope of the highs. This causes the price range to contract and the trend lines to converge. Both trend lines slope upwards, but they converge as the price action progresses. Volume: Typically, volume decreases as the pattern develops, indicating a weakening upward momentum. Duration: The pattern can develop over a few weeks to several months. Types of Rising Wedges Reversal Pattern: When a rising wedge appears after an uptrend, it often indicates that the uptrend is losing momentum and a bearish reversal is likely. The price eventually breaks down through the lower trend line, leading to a downward move. Continuation Pattern: In some cases, a rising wedge can form in a downtrend, acting as a continuation pattern. This is less common. After a brief upward correction, the price breaks down, continuing the prior downtrend. Trading the Rising Wedge Entry Points: Traders often look to enter a short position when the price breaks below the lower trend line of the wedge. Confirmation of the breakout can be supported by increased volume and bearish candlestick patterns. Stop-Loss: A stop-loss order is typically placed above the recent high within the wedge to protect against false breakouts. Target Price: The target price is often set by measuring the height of the back of the wedge and subtracting it from the breakout point.
Short
by BenjaminFib