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EURCAD trade ideas

EURCAD: Geopolitical and Technical AnalysisThe euro is susceptible to fluctuations in energy prices, while the Canadian dollar stands to gain from them. Any developments concerning the conflicts in the Middle East or Ukraine, as well as increased tensions in these regions, could potentially lead to a bearish sentiment for EUR/CAD. However, I believe that the market's reaction to previous events, such as the Iran-Israel conflict, was perhaps exaggerated, and now there seems to be a reevaluation as markets return to their previous positions. We may see this trend persist until the next unexpected development from oil-producing countries I predict the green path, but I'm open to considering the red path as well. This viewpoint incorporates both intraday and long-term trading perspectives. Enter the trade after the zones have been breached.. Regarding the long-term view, just follow the path after breaking the lines
Long
by AliSignals
EUR/CAD: Leveraging Range-Bound Trading OpportunitiesThe EUR/CAD pair, since January 1st, 2023, has been traversing within a defined range, characterized by notable reversals between support and resistance levels. Recent market movements have unveiled a potential reversal pattern, signaling opportunities for astute traders. Initiating from its recent peak at 1.5050, EUR/CAD has embarked on a new trajectory, marked by a reversal pattern that warrants close attention. Notably, during Friday's trading session, the price encountered resistance, failing to surpass the 50% Fibonacci retracement level from its preceding lower low. This development underscores the significance of technical analysis in discerning potential market movements. Moreover, seasonal trends play a pivotal role in shaping price dynamics, and EUR/CAD is no exception. Historical data indicates a seasonal pattern where prices tend to decline until October. Armed with this insight, traders can strategically position themselves to capitalize on anticipated price movements. At our trading desk, we are closely monitoring these developments, poised to seize opportunities presented by the current market configuration. Leveraging our analysis, we are inclined to open a short position, targeting the 1.4200 level. However, it's crucial to acknowledge the possibility of further downward movement, potentially breaching the support level of the established range area.
Short
by FOREXN1
1
EURCAD Is Going Up! Buy! Take a look at our analysis for EURCAD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.460. Considering the today's price action, probabilities will be high to see a movement to 1.464. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Lingrid | EURCAD testing SWAP ZONEThe price perfectly fulfills my last idea. It hit the target. FX:EURCAD broke through the range zone, and it pulled back to it after testing the support. Price action made impulse moves down from resistance, where a swap zone was formed. The market trend is bearish; therefore, I expect the price to continue to move lower toward support from resistance, which is the previous day high. I think the market might test the equal lows below. On the daily timeframe, the market formed long-tailed bars, indicating bearish pressure. My goal is to support at 1.46010 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
1
EURCADA bearish flag is a technical chart pattern that typically forms after a significant downward price movement in a financial asset, such as a stock or a cryptocurrency. It resembles a flag on a pole, hence the name. The pattern consists of two main components: 1. **Flagpole**: This is the initial sharp decline in price, which forms the pole of the flag. It represents strong selling pressure and often occurs on high trading volume. 2. **Flag**: Following the flagpole, there is a period of consolidation where the price trades within a narrow range, forming a downward-sloping channel or a rectangle. This consolidation phase is called the flag. It suggests that sellers are taking a break and the market is catching its breath before potentially resuming the downtrend. The bearish flag pattern is considered a continuation pattern, indicating that the downward trend is likely to persist once the price breaks below the lower boundary of the flag. Traders often look for entry opportunities to sell short when the price breaks below the flag, targeting a price decline similar to the height of the flagpole. However, like any technical pattern, it's important to consider other factors such as volume and market context before making trading decisions.
Short
by B9A-88652-NisarAhmad
I'll tell you the exact rebound spot for #EURCADHello friends nice to meet you all hope you have a good day #EURCAD When you look at the big picture, It is moving sideways, drawing a BOX pattern. By looking at the important tail zone in the past wave and calculating the angle of the short-term trend line, a RED short-term trend line was created. With the current decline, There will be a rebound near the bottom of the red short-term downtrend line or BOX, and candles will go towards touching the top of the BOX.
Long
by EAGLE_S_S
4
EUR/CAD +65 Pips Congratulations if u entered with me According to the price condition now it is facing a very strong resistance that forms a celling to it right now and it created a downtrend line with 2 waves and now we are about to create the third wave. If u used ur fib tool u will see that the price is near the 61% and 71% fib level that’s why i chose to put a sell limit order around 1.46750. I also chose 50 pips to be my stop loss as if the price came above 78% fib level and closed with a daily candlestick it means for me that the price will continua rallying up and the downtrend will end. And for the take profit i prefered to take around 250 pips. Hope u guys make good profits with me and if u entered with me are u agree write to me in the comments.
Short
by Forex_Wealth_Factory