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EURCAD trade ideas

EURCAD: Anticipating triangle formation and bullish breakoutHello traders, Here is my detailed long-term Market analysis of EURCAD. This is intended to educate those who might be new or at their intermediate level in Elliott wave theory. The EURCAD currency pair is currently exhibiting a sideways trend, which is characterized by relatively stable price movement within a confined range. This type of market behavior often precedes significant price movements once the consolidation phase ends. Analysis Highlights 1. Sideways Range and Potential Triangle Pattern Sideways Range : The EURCAD pair has been trading within a horizontal range, indicating a period of consolidation where neither bulls nor bears have a definitive upper hand. Triangle Pattern Formation : This range is likely forming a triangle pattern. In Elliott Wave Theory, a triangle is a corrective wave pattern typically observed in wave (B) of a zigzag correction or wave 4 in an impulse wave sequence. Wave (B) of Zigzag : The ongoing formation suggests that the triangle could be wave (B) of a larger zigzag pattern, which generally consists of three waves: A, B, and C. The zigzag pattern typically appears in a corrective phase. 2. Anticipated Impulsive Upward Move Completion of the Triangle : Once the triangle pattern completes, it is expected to be followed by an impulsive wave (C). This is typically a strong, directional move which would be upward in this case. Confirmation : For the bullish outlook to be validated, the completion of the triangle pattern in all its constituent waves (labeled A, B, C, D, and E) is crucial. 3. Key Points for a Bullish Outlook Triangle Completion : Wait for the triangle pattern to fully form, completing all its waves. Breakout Confirmation : Look for a breakout above the triangle's upper boundary and a key resistance level. 4. Target and invalidation levels 1.62284 Level: The minimum target for the anticipated upward wave. Invalidation level: When price move below wave C of the triangle. I hope this helps. Cheers and happy trading!
Long
by Samuel124
📈 EUR/CAD Breakout Play on the 4-Hour ChartHey traders, let’s dive into EUR/CAD as we see some intriguing action on the 4-hour timeframe. We’re eyeing a potential breakout, so here’s the scoop: ✅ Breakout Potential: The pair is tightening up, forming what seems to be an ascending triangle pattern, pushing against the yellow resistance line at 1.48185. A decisive breakout above this resistance could set up a nice move. Watch for a solid 4-hour candle close above this level to confirm bullish intent. 🔍 Entry Point: If we get our breakout, the entry would be just above the 1.48185 mark, post-confirmation. 🛑 Stop-Loss: To keep things tight, consider placing a stop-loss just below the most recent swing low at around 1.47717 to minimize risk. 🎯 Take Profit: Initial profit targets might look towards the next significant resistance level marked at 1.48590. If the momentum holds, the upper yellow line could be the next stop. 📉 Market Sentiment: Keep an eye on overall market sentiment and any news affecting the Euro or Canadian Dollar, as these could influence price action significantly.
Long
by SheenaL
EUR/CAD will go For Correction Wavewe have two scenario First scenario : price will pull-back for correction wave and create higher low at black arrow or between 50:61 fibo level , so u can go short now and take any target or when confirming higher low in H4 second scenario : price will break current resistance area green arrow may be powered by news for CAD that will price to go up and we can go long and take any target i personally prefer to go with low lot with first scenario and go with high lot with second scenario because second is walking with general up trend but i can take a trade with correction wave have fun :)
Short
by maxbayne
EURCAD Under Pressure! SELL! My dear followers, This is my opinion on the EURCAD next move: The asset is approaching an important pivot point 1.4778 Bias - Bearish Safe Stop Loss - 1.4804 Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 1.4737 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURCAD APPRAOCHING A MASSIVE ZONE Hello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX If you like the idea, do not forget to support with a like and follow. EURCAD APPRAOCHING A MASSIVE ZONE. 📚 👉As we can see price is still overall bullish trading inside this rising channel making clean higher highs and higher lows, especially after breaking above our previous major high. 👉Moreover, As the price will be approaching our upper supply zone a massive one, lining up with our upper bound of this channel, acting as an over-bought zone. where we will be looking for new shorts as a correction movement. 📚 If you like this kind of analysis don't forget to like and follow and as usual follow your trading plan and manage your risk. Be patient and good luck!
Short
by Hadi_karaali
EURCAD BUY BIASPrice has been bullish , making successive HH and HL, hoping to take a long position from any of the zone below, targetng the previous HH, This is just a financial advice not a signal, 1st zone is a flipzone and its in the premium, and ideally its wrong to take a long from premiums pricing ( tho it's in the discount of the recent range, but i like taking entries from the structural range). So the second zone below is my preferable option as it aligns with the discount of the structural range
Long
by Millie_FX
1
EURCAD Is Very Bullish! Buy! 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 approaching a significant support area 1.479. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.482 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