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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 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
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
EURCAD Will Collapse! SELL! My dear followers, I analysed this chart on EURCAD and concluded the following: The market is trading on 1.5102 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probableBearish continuation. Target - 1.5053 Safe Stop Loss - 1.5130 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURCAD Will Go Down! Sell! Here is our detailed technical review for EURCAD. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 1.499. Considering the today's price action, probabilities will be high to see a movement to 1.493. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
EURCAD Trading Opportunity! SELL! My dear friends, EURCAD looks like it will make a good move, and here are the details: The market is trading on 1.5018 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 1.4970 Recommended Stop Loss - 1.5052 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
Sell EUR/CAD Bearish ChannelThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.4908, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.4866 2nd Support – 1.4834 Stop-Loss: To manage risk, place a stop-loss order above 1.4940. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_FOREX_TRADING
3