Digesting the US & Canada job numbers The numbers are out and, so far, the market is reacting logically. Let's dig in!
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MARKETSCOM:EURUSD
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MARKETSCOM:USDCAD
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EURCAD trade ideas
EURCAD POSSIBLE BUY CONTINUATION Price just broke a resistance level of 1.55469 a retest to this level will provide a good opportunity to go long. Fundamentally, the just released Canada unemployment rate came out worse than expected which further increase the probability of buy opportunity to emerge.
EURCAD Is Very Bullish! Long!
Please, check our technical outlook for EURCAD.
Time Frame: 45m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 1.552.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.561 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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EURCAD FORECASTINGTraders! We have this pair on watch today; however, we need to see more price development before we make a decision on the market. In this video, I explain all the areas that you can take advantage of. I suggest you watch it to the end to gain clarity on how you can tackle every scenario that the market will undergo.
EURCAD Wave Analysis – 6 March 2025
- EURCAD broke multi-year resistance 1.5100
- Likely to rise to resistance level 1.5770
EURCAD currency pair is rising sharply after the earlier breakout of the powerful multi-year resistance 1.5100, which has stopped all upward impulses from the start of 2021.
The breakout of the resistance 1.5100 accelerated the short-term impulse wave 3 of the longer-term upward impulse sequence (3) from the end of 2024.
Given the clear multiyear uptrend, EURCAD currency pair can be expected to rise to the next resistance level 1.5770, the former major price barrier from 2020 and the target for the completion of the active weekly impulse wave 3.
EURCAD – Bullish Continuation Toward 1.54850OANDA:EURCAD is currently trading within an ascending channel, indicating a strong bullish structure. The price has broken above a key resistance zone and now pulled back for a retest. This area previously acted as resistance and may now serve as support, aligning with a potential bullish continuation.
If buyers confirm support at this level, the price is likely to move upward toward the 1.54850 level, which represents a logical target for this setup. Conversely, a failure to hold support could signal a potential bearish shift.
Traders should monitor for bullish confirmation signals, such as bullish engulfing candles, strong wicks rejecting the support zone, or increased buying volume, before considering long positions.
Let me know your thoughts or any additional insights you might have! 🚀
EUR/CAD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
We are going short on the EUR/CAD with the target of 1.528 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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EUR/CAD Technical Analysis – Price Rejection at Key ResistanceEUR/CAD has reached its highest level since August 2024, touching a major resistance zone. However, instead of breaking higher, the price has faced strong rejection, indicating that sellers have stepped in with force.
The pair tested a critical resistance level but failed to break through, signaling a potential shift in momentum.
The rejection suggests that buyers may be losing control, giving sellers an opportunity to push prices lower
Downside Targets:
The next potential target for sellers is 1.50000, a psychological and technical support level.
If selling pressure remains strong, the second downside target is 1.48800
EURCAD SELL / BUY TRADE PLANS🔻 PRIMARY TRADE – SELL SETUP (1.5300 – 1.5350)
SELL ENTRY
🔹 Aggressive Entry: Sell Limit at 1.5300 – 1.5350 (Institutional Supply Zone).
🔹 Confirmation Entry: Wait for bearish rejection (Fakeout, Engulfing, or Pin Bar) below 1.5300.
🔹 SL: 1.5380 (Above liquidity grab & invalidation zone).
🔹 TP1: 1.5220 (Nearest support, move SL to breakeven).
🔹 TP2: 1.5150 (Liquidity target).
🔹 TP3: 1.5080 – 1.5050 (Full bearish target).
✅ Risk-Reward Ratio: 1:3+
🎯 Confidence Level: ✅✅✅✅ (Strong Technical & Liquidity Confluence).
📌 Reasons for confidence level:
🔹 Price is overextended into key resistance & supply zone (1.5300 – 1.5350).
🔹 Multiple rejections near 1.5300, indicating institutional selling.
🔹 Bearish divergence forming on volume (weakening buyers).
🔹 Potential liquidity grab above 1.5300 before reversal.
🟢🔄 Ultra-Refined Buy Trade Plan
🔹 Aggressive Entry: Buy Limit at 1.5020 – 1.4980 (Refined Institutional Demand Zone).
🔹 Confirmation Entry: Wait for bullish rejection (Wick Rejection, Bullish Engulfing, or Fakeout) above 1.5000.
🔹 SL: 1.4950 (Below liquidity grab & invalidation zone).
🔹 TP1: 1.5080 (Nearest resistance, move SL to breakeven).
🔹 TP2: 1.5150 – 1.5180 (Extended move based on liquidity).
🔹 TP3: 1.5250 – 1.5300 (Full bullish target).
✅ Risk-Reward Ratio: 1:3+
🎯 Confidence Level: ✅✅✅✅ (High, due to strong liquidity grab confluence).
📌 Why consider buying here?
🔹 Price would retrace deeper into institutional demand at 1.5020 – 1.4980.
🔹 Fair Value Gap (FVG) + 50% – 61.8% Fibonacci retracement align in this area.
🔹 Previous liquidity grab zone confirms high-probability reaction.
🔹 Potential smart money accumulation area before reversal.
EURCAD BULLISH FOR 200PIPS1. Technical Analysis
Trend Indicators: If EURCAD is in an uptrend on the 4-hour or daily charts, you might expect continued bullish momentum.
Support Levels: Look for key support levels that the pair has held above recently. If EURCAD is bouncing off a support zone (such as a moving average or horizontal support), it may provide a strong signal for a bullish move.
Resistance Levels: The pair should be approaching a resistance zone for you to consider the potential for 200 pips higher. If it breaks through a significant resistance level, that could signal further upward movement.
Technical Indicators: Bullish signals on indicators like the Relative Strength Index (RSI) or moving average crossovers might support a bullish outlook. Look for signs of momentum, such as higher highs or MACD signals.
2. Fundamental Analysis
Economic Data: EURCAD’s movement is influenced by economic reports from both the Eurozone and Canada. Strong economic data (like GDP, inflation, or employment reports) from the Eurozone could give EUR a boost, while weaker economic performance in Canada (such as falling oil prices or weaker employment reports) could drag down the CAD.
Central Bank Policies: Look at the interest rate decisions or any commentary from the European Central Bank (ECB) and the Bank of Canada (BoC). A more dovish stance from the BoC or a more hawkish stance from the ECB could influence EURCAD upwards.
EURCAD Is Bullish! Buy!
Here is our detailed technical review for EURCAD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.501.
The above observations make me that the market will inevitably achieve 1.509 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Bullish bounce?EUR/CAD is falling towards the pivot which is a pullback support and could bounce to the 1st resistance.
Pivot: 1.5106
1st Support: 1.4993
1st Resistance: 1.5258
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EUR/CAD Buy @ Support ZoneThe EUR/CAD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent Formation of a AB=CD Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position around Trendline Of The Pattern.
Target Levels:
1st Resistance – 1.5128
2nd Resistance – 1.5185
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Important week for EURCADEURCAD - Canadian Dollar is the weakest player of market on 3.3.2025. I can see a possible buy if the price reject the last strong demand zone. On 7.3.2025 CAD will have high impact news: Employment Change and Unemployment Rate which will be decisive for the next moves of the pair.
EURCAD at Key Resistance Zone - Potential Drop to 1.50180OANDA:EURCAD has reached a significant resistance zone, marked by prior price rejections, suggesting strong selling interest. This area has previously acted as a key supply zone, increasing the likelihood of a bearish reversal if sellers regain control.
If the price confirms resistance within this zone through bearish price action (e.g., wicks or rejection candles), we could see a move toward 1.50180, which represents a logical target based on recent structure.
However, if the price breaks and holds above this resistance area, the bearish outlook may be invalidated, potentially opening the door for further upside.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!