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EURCAD trade ideas

EUR/CAD has a strong bearish momentum, could it fall further?Price is rising towards the resistance level which is an overlap resistance which aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.46671 Why we like it: There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 1.47033 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement Take profit: 1.46192 Why we like it: There is an overlap support level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Sell EURCAD ECB Interest RateThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level of the channel, ideally around 1.4700. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.4656: This represents the first level of support within the channel. 1.4628: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.4720. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_FOREX_TRADING
3
Strategy for EURCAD this Week with CPITaking a look at the 4hr chart, price action stalled out at the 50% zone leaving 100 pip risk/reward (however you look at it) in either direction to the support and resistance levels I chalked up. The most important technical indicator that I'm paying attention to is the fact that we are still getting red arrows on this timeframe. Once we get a green arrow, I'll look to scale down to smaller timeframes and wait for a buy alert. All trades for effective risk management should always start off as a scalp, followed by position management depending on how price action presues. We do have CPI data from both Canada and the Eurozone this week. The forecasts do leave room for potential surprises but considering the fact we just had a BOC and ECB interest rate meeting, I can't foresee any major trends developing with this pair. Nevertheless, this pair is likely to chop around in this range. Upon arriving at either support or resistance, I'll then provide my next analysis. Until Then... Trade Safe - Trade Well All the Best
by Michael_Harding
EURCAD: Quick short opportunity + bonus for long term.EURCAD marginally turned bearish on its 1D technical outlook (RSI = 44.842, MACD = 0.001, ADX = 27.243) as it hit both the 1D MA50 and 1D MA200 today. That is dead neutral on a 15 month basis as the pair has been on a wide ranged price action since the start of 2023. Currently it sits exactly at the middle of this pattern on the 0.5 Fibonacci level. This gives us the opportunity for a quick short term sell on the HL trendline (TP = 1.45750). The HL trendline has always been crossed downwards these 1.5 years so if we see a crossing under the 0.618 Fibonacci, we will sell again and target the 0.786 Fib (TP = 1.43650). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURCAD can be stopped again from the old structure areaEURCAD can be stopped again from the old structure area Technical Analysis: From the previous analysis, EURCAD has failed to break 1.4765. This zone was tested several times in the past and the price then decreased. The price may decrease again from this area since we also have the ECB's rate decision on Thursday. It will be interesting to see how the market reacts ahead of the meeting. A bullish move above 1.4765 would increase the chances of further upside. Downside targets: 1.4665, 1.4565, 1.4480 Bullish targets: 1.4910 PS: I think there is more chance of a bearish wave You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Short
by KlejdiCuni
4