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EURCAD trade ideas

Bullish bounce off overlap support?EUR/CAD has reacted off the pivot and could rise to the 1st resistance which acts as an overlap resistance. Pivot: 1.48895 1st Support: 1.48252 1st Resistance: 1.50070 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
EURCAD POSSIBLE SELLThe market is currently testing the current Weekly 0.786Fib area. Based on 4HR TF, the market seems to be forming a possible reversal pattern via price action. We could see SELLERS coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
Short
by WiLLProsperForex
EURCAD - LongEURCAD Analysis - LONG 👆 In this Chart EURCAD H1 Timeframe: By Nii_Billions. ❤️This Chart is for EURCAD market analysis. ❤️Entry, SL, and Target is based off our Strategy. This chart analysis uses multiple timeframes to analyze the market and to help see the bigger picture on the charts. The strategy uses technical and fundamental factors, and market sentiment to predict a BULLISH trend in EURCAD, with well-defined entry, stop loss, and take profit levels for risk management. 🟢This idea is purely for educational purposes.🟢 ❤️Please, support our work with like & comment!❤️ 🟢🟢🟢🟢🟢❤️❤️❤️❤️❤️MERRY CHRISTMAS ❤️❤️❤️❤️❤️❤️🟢🟢🟢🟢🟢
Long
by Nii_Billions
Is EURCAD ready to resume the DownTrend?In recent days, the EUR/CAD pair has exhibited notable fluctuations on the daily chart. After reaching the 1.5170 level, a significant resistance point in recent years, the price began to weaken and entered a consistent decline. This area served as a crucial psychological and technical barrier, leading to increased selling pressure. The price subsequently fell below the sideways support at 1.4900, indicating a short-term reversal. The decline continued aggressively, breaking through the 1.4610 support level, another key point on the daily chart, underscoring the strength of the sellers. Following this sharp decline, the pair experienced a pullback, returning to the previously broken 1.4900 area. This region, which had acted as support, now functions as significant resistance. This zone aligns with the 61.8% Fibonacci retracement level, drawn from the high of 1.5170 to the low of 1.4483, further emphasizing its technical importance. Given these factors, the expectation is for the EUR/CAD to continue its downward trend in the coming days. Potential Sell Trade A favorable selling opportunity may arise if the price closes below 1.4870 on the daily chart. Such a move would confirm rejection in the 1.4900 area and pave the way for further declines. Sell Details: Possible Entry Point: Close below 1.4870. Stop Loss: Above 1.4980, representing a risk of 110 pips. Take Profit: Near the 23.6% Fibonacci retracement level at 1.465, with a potential gain of 220 pips. Alternative Scenario: Bullish Resumption If the price does not close below 1.4870 and instead breaks the recent candle's high, we may see EUR/CAD retest the 1.5170 region. Such a move would invalidate the short-term bearish outlook and could attract new buyers. It's important to note that the market is closely watching the Bank of Canada (BoC) interest rate decision today, with expectations of a 0.5% cut, reducing the rate from 3.75% to 3.25%. This could weaken the CAD, favoring an increase in EUR/CAD. Conversely, if the cut is smaller than anticipated (e.g., 0.25%) or does not occur, it may accelerate the pair's downward movement, given that sellers are already in control. In Summary The EUR/CAD is at a critical juncture, facing strong technical resistance at 1.4900 and showing signs of rejection at the 61.8% Fibonacci level. The likelihood of a decline strengthens, especially if the price closes below 1.4870, with target levels at 1.4645 (the 23.6% Fibonacci). However, traders should also consider the alternative scenario of breaking the recent high and advancing to 1.5170. Close monitoring of price action and the BoC announcement is essential for making informed trading decisions, as this could significantly impact the pair's direction. Disclaimer 74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
Short
by Marketscom
EURCAD Buy ForecastEURCAD New forecast👨‍💻👨‍💻 Note: Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP. Please support this idea with a Like and COMMENT if you find it useful click "follow" on our profile if you will like these type of trading ideas delivered straight to your email in the future. Thanks for your continued support!! lemme know your thoughts in the comment sec...
Long
by King_CityStar_Fx
EURCAD Short SignalAnalysis: Why EURCAD is bearish 1. inversion fair value gap (IFVG): Price has reached the marked Inversion Fair Value Gap (IFVG) at the 1.49589 area, which serves as a resistance zone. Liquidity is often tapped in such areas before a reversal movement sets in. The decline from the IFVG area indicates that sellers have become active. 2nd Fibonacci retracement level: The 70.5% level (1.49630) is a significant resistance area. These levels are often used to open short positions, especially when they coincide with other resistance indicators, such as the IFVG in this case. 3rd order block (OB-): Price has tested a previous bearish order block (OB), which is also in the resistance zone. This area is often used as an entry point for sellers, as many sell orders are collected there. 4. structural reversal: The recent move into the resistance area shows a clear reaction, indicating a possible reversal to the downtrend. As long as the price does not form significant higher highs, the overall structure remains bearish. Conclusion: EURCAD is showing clear signs of a bearish reversal. The IFVG area, Fibonacci resistances and the order block reinforce the case for a short position. A potential target could lie in lower support areas if the price continues to form low highs and lows. Translated with DeepL.com (free version)
Short
by DavidOakFx
EURCAD is in a Bullish Pattern After Testing daily SupportHello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
EUR/CAD - Weekly Analysis"On Monthly: 200, 50 and 20 EMA are showing Bullish move as the overall move indicates. Price moving back down to test 1.47140 another Psychological Support , but it didn't reach and pulled back up. It seems it's moving up toward 1.52000 a psychological resistant. -- On Weekly: Two solid Bullish candle revered the bearish attempt and price is moving towards 1.5070. All three EMAs, 200, 50 and 20 (RGB) are on order supporting Bullish move. --On Daily: The inverted Head & Shoulders has broken neck and Bullish move is going full steam. All three EMAs, 200, 50 and 20 (RGB) not sequentially, but they are supporting bullish move. -- On Hourly: it seems, it has created Rising Wedge, showing exhaustion of Bullish move. Additionally, RSI is clearly showing a great Divergence for Bearish reversal despite the all three EMAs, 200, 50 and 20 (RGB) supporting Bullish move."
Long
by Ha-Lion