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EURCAD trade ideas

EurCad could visit recent lowsAt the beginning of last month, EUR/CAD tested the waters near the important 1.5 level. Sellers entered the market, causing the pair to drop to 1.46. A normal correction followed, and at the time of writing, the price is 1.4750. The 1.48 level serves as significant horizontal technical resistance, and the recent rise appears to be a corrective move contained within a flag pattern. All this suggests that a new leg down is probable. I am looking to sell into rallies with a 1:3 risk-reward ratio.
Short
by Mihai_Iacob
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