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EURCAD trade ideas

EUR/CAD 1HR // 09 July 2024 AnalysisEUR/CAD has given us another opportunity, looking at the 1HR timeframe, we can see a downtrend with 2 previous touches and a third touch. Price has also rejected from the marked area of support/resistance. A good target would be around the 1.4700 area. DISCLAIMER: This analysis is purely for personal reference and record keeping and should be taken as educational material only, NOT FINANCIAL ADVISE. I will not be responsible for profits or loses due to this analysis.
Short
by thebrowntrader
EURCAD BUY | Idea Trading AnalysisEURCAD is moving under the descending channel The chart is above the support level, which has already become a reversal point twice. We expect a rebound after the support is retested. We expect a decline in the channel after testing the current level which suggests that the price will continue to rise Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity EURCAD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad ⚜️
Long
by TheGrove
7
several critical patterns Analysis on EUR/CAD 30m Pattern Formation - Symmetrical Triangle: The green dotted lines indicate a symmetrical triangle pattern, suggesting potential price consolidation before a breakout. - Descending Channel: The red dotted lines show a descending channel preceding the triangle, indicating the initial bearish trend. Volume Profile Analysis - High Volume Nodes: Higher trading volume is present around the support level near 1.4722, suggesting strong buying interest at this point. - Low Volume Areas: There is lower volume around the upper resistance levels, indicating less resistance to potential upward movement if a breakout occurs. Price Action Analysis 1. Top Right (1-Month Candle Chart): - Trend: The monthly chart indicates a downtrend with recent bearish candles. - Candlestick Patterns: The last few monthly candles show lower highs and lower lows, suggesting continued bearish sentiment. 2. Mid Right (2-Week Candle Chart): - Trend: The 2-week chart shows consolidation, with price fluctuating within a narrow range. - Candlestick Patterns: Mixed red and green candles suggest indecision, but recent candles lean towards a potential bullish breakout. 3. Bottom Right (Weekly Candle Chart): - Trend: The weekly chart shows a recovery from the recent downtrend, with the price attempting to form higher lows. - Candlestick Patterns: Recent green candles indicate bullish momentum, although not yet confirmed. Disclaimer This analysis is provided for informational purposes only and should not be considered financial advice. Trading financial instruments involves risk, and you should perform your own research and analysis before making any investment decisions. Always consult with a professional financial advisor.
Long
by TJalam
EURCAD Testing the 1D MA50. Sell opportunity.The EURCAD pair eventually formed the new Lower High on the 17-month Channel Down as presented on our last analysis (May 27, see chart below) and got rejected: The rejection extended to as low as the 1D MA200 (orange trend-line) and a short-term rebound has brought the price back to a 1D MA50 (blue trend-line) rejection. Both previous Bearish Legs declined at least by -3.85%. We expect this 1D MA50 rejection to lead the price to at least Support 1, with our Target being 1.45000 (just above it). On a side-note, check the high degree of symmetry between the 1D RSI sequences of the Channel's Legs. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
EUR/CAD Consolidation Watch: Ready for a Breakout!Hey traders, here’s the scoop on EUR/CAD: ⚠️ EUR/CAD is currently showing signs of consolidation after a recent bullish move. On the 4-hour time frame, we can see that the market is trading within a well-defined range. Here’s the breakdown: ✅ Bullish Scenario: Entry: Look for a strong breakout above the resistance level at 1.47121. This level has been tested multiple times and a breakout here could indicate a continuation of the bullish trend. Stop Loss: Place your stop loss just below the recent swing low at around 1.46790 to protect against false breakouts. Target 1: The first profit target can be set at 1.47487, offering a reasonable risk-reward from the entry point. Target 2: If momentum continues, look for an extended target around 1.47774. ❌ Bearish Scenario: Entry: If the price fails to break above 1.47121 and shows signs of reversal, consider entering a short position. Stop Loss: Place your stop loss just above the resistance level at around 1.47200. Target 1: The first profit target can be set at the support level of 1.46790. Target 2: If bearish momentum is strong, look for an extended target around 1.46400. Key Indicators: The 21 EMA (yellow line) is acting as dynamic support. A break below this could be an early sign of a bearish move. The 200 EMA (blue line) is far below the current price, indicating a strong bullish trend overall. Monitor price action closely near these critical levels for any signs of breakout or reversal, and as always, adjust your strategy based on real-time market conditions. Let’s catch these moves and trade smart! 📈💼
by SheenaL