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Eurcadshort

EURCAD Short Trade SetupA bearish opportunity recently presented itself on the euro-loonie trading chart. This follows from the bearish harami candlestick pattern which printed just below the 1.33000 psychological level, indicating a rejection of the level. A stop loss above the 1.34000 psychological level and a profit target anywhere between your entry and the swing low of 1.28777 could give you a reward-to-risk ratio as high as 3 or even higher. Be sure to size your position based on your trading account balance and apply other risk management measures before placing trades. FX:EURCAD Rooting for you! Your FX Plug
Short
by charles-okoukoni
EURCAD: Short opportunityAs mentioned on my Monday Overview, it's time to SELL EURCAD. I remind you that this is only a forecast based on what current data are. Therefore the following signal will be activated only if specific rules are strictly respected. I really hope you liked this content and I would like to know what do you think about this analysis, so please use the comment section below to give me your point of view. Pit DISCLAIMER: Trading activity is very dangerous. All the contents, suggestions, strategies, videos, images, trade setups and forecast, everything you see on this website and are the result of my personal evaluations and was created for educational purposes only and not as an incentive to invest. Do not consider them as financial advice. ———————————
Short
by kitchen_trading
Divergence found on EUR/CAD pair WeeklyFor the last couple of months, the EUR has maintained a weak position against many of its trading partners. This includes the Canadian dollar. The Canadian dollar has benefitted immensely from the high cost of crude, in addition to the Bank of Canada (BoC) moving much faster than the European Central Bank (ECB) to start hiking interest rates in the face of inflationary pressure. Yesterday, the BoC enacted a 75 basis-points rate hike, its fifth post-pandemic hike. Today, the ECB is expected to deliver a 75-basis points rate hike, only its second post pandemic rate hike. TECHNICAL ANALYSIS. From the weekly timeframe, EUR/CAD is primarily on a downtrend. We also see a classic divergence in the Money Flow Index (MFI). The Money Flow Index (MFI) is a technical indicator that measures how money flows into and out of a security over a specified period. The MFI is an indicator that combines momentum and volume with an RSI formula. With a classic divergence, the MFI indicates a reduced volume as price trends downwards.
by BlackBull_Markets