EURCAD: Weak Market & Bearish Forecast
Balance of buyers and sellers on the EURCAD pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the sellers, therefore is it only natural that we go short on the pair.
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EURCAD trade ideas
EURCAD Will Fall! Short!
Take a look at our analysis for EURCAD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.474.
The above observations make me that the market will inevitably achieve 1.466 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.
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EUR/CAD Analysis: Bullish Momentum Strengthened by InstitutionalEUR/CAD is showing significant potential for continued upside, with large speculators holding long positions, according to the latest COT data. This institutional positioning stands in contrast to the prevailing retail sentiment, which remains predominantly bearish, often signaling that retail traders are positioned against the trend.
Retail traders, who are typically contrarian in nature, tend to be on the wrong side of the market when they are overwhelmingly bearish. This dynamic provides an opportunity for institutional traders to push EUR/CAD higher, as they target retail stop-loss orders below key levels.
With institutional long positions supporting the bullish trend and retail traders positioned on the opposite side, EUR/CAD appears poised for further gains. Traders should watch for key support levels and potential liquidity zones to find fresh entry points as the bullish momentum continues to build.
EUR/CAD Weekly Analysis"On Monthly:
200, 50 and 20 EMA are showing Bullish move as the overall move indicates. However, 1.50700 and 1.5200 which is Psychological Resistant are holidng firm.
Price moving back down to test 1.4800 another Psychological Support number that is playing Support now which has been respected in the past.
Next Support is 1.47140 followed by past 52 Candle Low 1.44500.
In short, depite the overall Bullish move, this month we are going Bearish.
-- On Weekly:
The Uptrend has been broken and it has been tested by last week move.
Some may argue that it's Harami Bullish candle formation. However, if the upper and lower wick were much greater, then it would be Harami for sure.
If Monday doesn't continue Bullish move, then the reversal to down is the moselikely next move.
--On Daily:
On 11/22 it hit the Monthly bottom Trend line (RED) and sharly rejected and bounce backed up.
It's testing the Daily (GRAY) trendline and candles are getting smaller and it seems they are losing steem and ready to bounce back down to S. 1.47140 a strong historical respected number.
All three EMA, 200, 50, and 20 are above price.
-- On Hourly:
It's trending up and going toward the Daily trendline.
As we can see, it has been touched twice and was rejected sharply.
Entry would be;
Either wait for touch upper Hourly / Daily trendline and confirm the rejection.
OR
Once the Lower band of Hourly Trendline is broken and confirmed.
Bearish move towards 1.47140 historical Support/Resistant.
"
USD/JPY Weekly Analysis"On Monthly:
This pair, Since 2021 has beeb Bullish. That is due to Monetary policy of Japan that it seems recently it slowely changing.
There are two Historical Rersistants (160.00 and 155.400) that have been touch, but not broken since 1997. BOJ always interfear with market once the price get to that level.
Last month on November, it hit 155.400 and got rejected and it made a Doji Bearish candle that can arguably called Shooting Star.
Price is close to 149.00 Psychological number as support in this case. If FED. don't raise the Interested Rate in the month of December, price most likely will bounce back up.
-- On Weekly:
It made an Evening Starcandle formation and a solid Engulfing candle twice as big of previous candle and it's landing at 149.00 Support.
The bearish move now is clear that mostlikepy will continue based on this time frame.
--On Daily:
It is confirming the Bearish move to 149.00 with all three EMA 200, 50 and 20 supporting it. We need to see how it behaves once it hit 149.00 and adjust our strategy.
-- On Hourly:
This time frame just shows the same analysis granually. It's consolidating / correcting to continue Bearish move with the support of all three EMAs."
EURCAD is in a Bullish Pattern After Testing daily Support Hello Traders
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Buy EUR/CAD Bullish ChannelThe EUR/CAD pair on the M30 timeframe presents a potential Buying opportunity due to a a well-defined Bullish Channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 1.4795, This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.4874
2nd Support – 1.4912
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
EURCAD Strong medium-term buy opportunity.The EURCAD pair gave us an excellent sell signal last time (September 12, see chart below) that easily hit our 1.46550 Target:
This time we have a confirmed bottom just a week ago on the 0.786 Channel Fibonacci level, similar to the June 08 2023 bottom, both accompanied by a 1D MACD Bullish Cross.
As a result, we turn bullish on this pair targeting 1.5000, which is just below the 0.236 Channel Fib, similar to the July 18 2023 High.
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Is the EURCAD Setting Up for a BUY Opportunity?👀 👉 The EURCAD has made an impressive move off a key support level, showing strong momentum as it approaches previous highs. The question remains—what’s next? I’m closely monitoring for a potential buy setup, specifically if the pair retraces to the critical 50% Fibonacci level. At that point, I’ll be looking for a clear bullish shift in market structure to confirm a high-probability entry. Patience is key here, as waiting for confirmation can make all the difference in achieving consistent results. 📢 Disclaimer: This content is for educational purposes only and is not financial advice.
EURCAD EURCAD has cleared liquidity at the 1.45846 level while trading within a channel. The pair has now brokern out of the channel, signaling bullish momentum and is targeting the liquidity above. This breakout indicates potential continuation of the uptrend with buyers aimung to captalise on the move towards higher liquidity zones.
EUR/CAD SELL ENTRY LOOK HEREIn one day time frame price is at supply zone a good area to sell the market.at the moment all we can do is to wait for price to confirm that now it's good time to sell,By waiting for price to break our previous high low,then we can start to look for sell entry after a pullback complete.follow for more have a good day.
Heading into overlap resistance?EUR/CAD is rising towards the resistance level which is an overlap resistance that is slightly below the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.48814
Why we like it:
There is an overlap resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 1.49977
Why we like it:
There is an overlap resistance level that aligns with the 127.2% Fibonacci extension.
Take profit: 1.47138
Why we like it:
There is a pullback support level that lines up with the 38.2% Fibonacci retracement.
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EURCAD - The Perfect Flat Correction. 700pip Move Coming!EURCAD is in a nice 335 Flat Correction.
Wave A = 3 waves
Wave B = 3 waves
Wave C = 5 waves.
Wave C
We are currently in wave C (5 waves). We have seen wave 1, which was a leading diagonal. Wave 2 was a simple abc correction.
Wave 3 a strong bearish impulsive move.
We are now in wave 4.
It's important to note wave C can follow either an ending diagonal format or an impulsive schematic format. In the latter format, wave 4 cannot go beyond wave 1 completion, making our invalidation level 1.48725 for a risk entry.
Trade Idea:
- Look for an entry with with stops above 1.48725 (Small stops needed)
- Hold position to 1.416 (700pips)
If we break above 1.48725, it means wave C is in an ending diagonal format. If this happens, we can look for a lower timeframe trendline break or BOS.
See below for our last setup:
EURCAD 4H - Entry on break of risk trendline for a more confirmed entry
Goodluck and as always, trade safe!