Smart money concept.i think the EURCAD is going up temporarily because the the 1H is downtrend and the 15m is making an uptrend move.
EURCAD trade ideas
EURCAD is in a Bullish PatternHello Traders
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EURCAD next possible moveWe are waiting for our asset to reach our action zone, and based on the reaction, we’ll decide on our next moves.ALWAYS WAIT FOR A CONFIRMATION TO SEE IF THE PRICE VALIDATES THE ZONE.
EURCAD_110 2024.11.07 16:51:04 Trading Signal SELLFrankPro Signal for EURCAD_110
Type: Screen
Signal: SELL
TP: 1.48963
SL: 1.49779
Entry Price: 1.49643
Analysis for EURCAD
Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Down LT=Up
ST=Down LT=Up
ST=Up LT=Up
Analysis Method(0)
Based on the provided analysis, I will provide separate assessments for short-term and long-term expectations for the EUR/CAD currency pair.
**Short-term (next few days to a week):**
Given the recent reversal from the key resistance level of 1.5160 and the formation of a Dark Cloud Cover pattern, the pair is likely to fall to the next support level at 1.5100. The overbought daily Stochastic also supports this bearish outlook. However, if the pair breaks above 1.5172, it could confirm a continuation higher. Considering the uncertainty and the dual potential scenarios, I would say that the price is expected to **go down** in the short-term, but with a possibility of a breakout above 1.5172, which could change the direction.
**Long-term (weeks to months):**
The decisive breakout above the slanting roof of a multi-month price pattern and the bullish MACD momentum indicator support a long-term bullish outlook. If the price follows through higher, it could make a significant advance, targeting 1.5228 and then 1.5312. However, a bearish close could form a two-bar reversal pattern, indicating a temporary deeper correction. Considering the overall analysis, I would say that the price is expected to **go up** in the long-term, but with a possibility of temporary corrections.
**Staying the same:**
Given the current uncertainty and the dual potential scenarios, it's unlikely that the price will stay the same in the short-term or long-term. The analysis suggests that the pair will either break out above 1.5172 or fall to the next support level at 1.5100, and then potentially continue its move in the same direction.
Result: ST=Down LT=Up
Analysis Method(1)
Based on the analysis, here are my conclusions:
**Short-term (next few days/week):**
* The breakout above the upper trendline of the pattern could be "false" and the pair might form a Double Top bearish reversal pattern.
* The MACD momentum indicator has risen above the zero line, but a bearish close could form a two-bar reversal pattern, indicating a potential short-term correction.
* Some analyses suggest that the pair holds negative signals from both short and long-term Moving Averages, indicating a more negative forecast in the short term.
* Therefore, I expect the price to **go down** in the short term, potentially breaking below 1.5101 and targeting 1.5051.
**Long-term (next few weeks/months):**
* The EUR/CAD has decisively broken out of a multi-month price pattern, which is a bullish sign.
* A break above 1.5172 could confirm a continuation higher, targeting 1.5228 and potentially reaching 1.5312.
* The pair has rebounded from range support, forming a strong bullish engulfing candle on the daily chart, suggesting a promising outlook for continued upward movement.
* Therefore, I expect the price to **go up** in the long term, potentially reaching the targets mentioned above.
Please note that these are just predictions based on the analysis, and the actual market behavior may differ.
Result: ST=Down LT=Up
Analysis Method(2)
Based on the analysis provided, here is my assessment of the EUR/CAD currency pair's potential price movement:
**Short-term analysis (next few days to a week):**
* The recent breakout above 1.5172 and the bullish engulfing candle on the daily chart suggest a potential uptrend.
* The MACD momentum indicator rising above the zero line also supports a bullish outlook.
* However, there is a risk of a "false" breakout, and if the price breaks below 1.5101, it could lead to a move down to 1.5051.
* Given the recent breakout and bullish indicators, I expect the price to **go up** in the short term, with a target around 1.5200.
**Long-term analysis (next few weeks to a month):**
* The EUR/CAD pair has broken out of a multi-month consolidation pattern, which could lead to a sustained uptrend.
* The Fibonacci price projections suggest potential targets at 1.5228 and 1.5312, which could be reached in the long term.
* However, the alternative scenario of a Double Top bearish reversal pattern cannot be ruled out, and a break below 1.5101 could lead to a move down.
* Considering the breakout and the bullish indicators, I expect the price to **go up** in the long term, with a potential target around 1.5312.
**Staying the same:**
* The current trading range of $1.48 and $1.51, with support at $1.46 and resistance at levels such as $1.47 and $1.48, suggests that the price could remain range-bound if it fails to break out of this range.
* However, given the recent breakout and bullish indicators, I do not expect the price to **stay the same** in the short or long term.
Overall, my analysis suggests that the EUR/CAD pair is likely to go up in both the short and long term, with a potential target around 1.5200 in the short term and 1.5312 in the long term.
Result: ST=Up LT=Up
EURCAD_101 2024.11.07 15:59:03 Trading Signal BUYFrankPro Signal for EURCAD_101
Type: Screen
Signal: BUY
TP: 1.50472
SL: 1.49793
Entry Price: 1.4989
Analysis for EURCAD
Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Down LT=Up
ST=Down LT=Up
ST=Up LT=Up
Analysis Method(0)
Based on the provided analysis, I will provide separate assessments for short-term and long-term expectations for the EUR/CAD currency pair.
**Short-term (next few days to a week):**
Given the recent reversal from the key resistance level of 1.5160 and the formation of a Dark Cloud Cover pattern, the pair is likely to fall to the next support level at 1.5100. The overbought daily Stochastic also supports this bearish outlook. However, if the pair breaks above 1.5172, it could confirm a continuation higher. Considering the uncertainty and the dual potential scenarios, I would say that the price is expected to **go down** in the short-term, but with a possibility of a breakout above 1.5172, which could change the direction.
**Long-term (weeks to months):**
The decisive breakout above the slanting roof of a multi-month price pattern and the bullish MACD momentum indicator support a long-term bullish outlook. If the price follows through higher, it could make a significant advance, targeting 1.5228 and then 1.5312. However, a bearish close could form a two-bar reversal pattern, indicating a temporary deeper correction. Considering the overall analysis, I would say that the price is expected to **go up** in the long-term, but with a possibility of temporary corrections.
**Staying the same:**
Given the current uncertainty and the dual potential scenarios, it's unlikely that the price will stay the same in the short-term or long-term. The analysis suggests that the pair will either break out above 1.5172 or fall to the next support level at 1.5100, and then potentially continue its move in the same direction.
Result: ST=Down LT=Up
Analysis Method(1)
Based on the analysis, here are my conclusions:
**Short-term (next few days/week):**
* The breakout above the upper trendline of the pattern could be "false" and the pair might form a Double Top bearish reversal pattern.
* The MACD momentum indicator has risen above the zero line, but a bearish close could form a two-bar reversal pattern, indicating a potential short-term correction.
* Some analyses suggest that the pair holds negative signals from both short and long-term Moving Averages, indicating a more negative forecast in the short term.
* Therefore, I expect the price to **go down** in the short term, potentially breaking below 1.5101 and targeting 1.5051.
**Long-term (next few weeks/months):**
* The EUR/CAD has decisively broken out of a multi-month price pattern, which is a bullish sign.
* A break above 1.5172 could confirm a continuation higher, targeting 1.5228 and potentially reaching 1.5312.
* The pair has rebounded from range support, forming a strong bullish engulfing candle on the daily chart, suggesting a promising outlook for continued upward movement.
* Therefore, I expect the price to **go up** in the long term, potentially reaching the targets mentioned above.
Please note that these are just predictions based on the analysis, and the actual market behavior may differ.
Result: ST=Down LT=Up
Analysis Method(2)
Based on the analysis provided, here is my assessment of the EUR/CAD currency pair's potential price movement:
**Short-term analysis (next few days to a week):**
* The recent breakout above 1.5172 and the bullish engulfing candle on the daily chart suggest a potential uptrend.
* The MACD momentum indicator rising above the zero line also supports a bullish outlook.
* However, there is a risk of a "false" breakout, and if the price breaks below 1.5101, it could lead to a move down to 1.5051.
* Given the recent breakout and bullish indicators, I expect the price to **go up** in the short term, with a target around 1.5200.
**Long-term analysis (next few weeks to a month):**
* The EUR/CAD pair has broken out of a multi-month consolidation pattern, which could lead to a sustained uptrend.
* The Fibonacci price projections suggest potential targets at 1.5228 and 1.5312, which could be reached in the long term.
* However, the alternative scenario of a Double Top bearish reversal pattern cannot be ruled out, and a break below 1.5101 could lead to a move down.
* Considering the breakout and the bullish indicators, I expect the price to **go up** in the long term, with a potential target around 1.5312.
**Staying the same:**
* The current trading range of $1.48 and $1.51, with support at $1.46 and resistance at levels such as $1.47 and $1.48, suggests that the price could remain range-bound if it fails to break out of this range.
* However, given the recent breakout and bullish indicators, I do not expect the price to **stay the same** in the short or long term.
Overall, my analysis suggests that the EUR/CAD pair is likely to go up in both the short and long term, with a potential target around 1.5200 in the short term and 1.5312 in the long term.
Result: ST=Up LT=Up
EURCAD_101 2024.11.07 13:04:03 Trading Signal BUYFrankPro Signal for EURCAD_101
Type: Screen
Signal: BUY
TP: 1.50013
SL: 1.49551
Entry Price: 1.49617
Analysis for EURCAD
Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Down LT=Up
ST=Down LT=Up
ST=Up LT=Up
Analysis Method(0)
Based on the provided analysis, I will provide separate assessments for short-term and long-term expectations for the EUR/CAD currency pair.
**Short-term (next few days to a week):**
Given the recent reversal from the key resistance level of 1.5160 and the formation of a Dark Cloud Cover pattern, the pair is likely to fall to the next support level at 1.5100. The overbought daily Stochastic also supports this bearish outlook. However, if the pair breaks above 1.5172, it could confirm a continuation higher. Considering the uncertainty and the dual potential scenarios, I would say that the price is expected to **go down** in the short-term, but with a possibility of a breakout above 1.5172, which could change the direction.
**Long-term (weeks to months):**
The decisive breakout above the slanting roof of a multi-month price pattern and the bullish MACD momentum indicator support a long-term bullish outlook. If the price follows through higher, it could make a significant advance, targeting 1.5228 and then 1.5312. However, a bearish close could form a two-bar reversal pattern, indicating a temporary deeper correction. Considering the overall analysis, I would say that the price is expected to **go up** in the long-term, but with a possibility of temporary corrections.
**Staying the same:**
Given the current uncertainty and the dual potential scenarios, it's unlikely that the price will stay the same in the short-term or long-term. The analysis suggests that the pair will either break out above 1.5172 or fall to the next support level at 1.5100, and then potentially continue its move in the same direction.
Result: ST=Down LT=Up
Analysis Method(1)
Based on the analysis, here are my conclusions:
**Short-term (next few days/week):**
* The breakout above the upper trendline of the pattern could be "false" and the pair might form a Double Top bearish reversal pattern.
* The MACD momentum indicator has risen above the zero line, but a bearish close could form a two-bar reversal pattern, indicating a potential short-term correction.
* Some analyses suggest that the pair holds negative signals from both short and long-term Moving Averages, indicating a more negative forecast in the short term.
* Therefore, I expect the price to **go down** in the short term, potentially breaking below 1.5101 and targeting 1.5051.
**Long-term (next few weeks/months):**
* The EUR/CAD has decisively broken out of a multi-month price pattern, which is a bullish sign.
* A break above 1.5172 could confirm a continuation higher, targeting 1.5228 and potentially reaching 1.5312.
* The pair has rebounded from range support, forming a strong bullish engulfing candle on the daily chart, suggesting a promising outlook for continued upward movement.
* Therefore, I expect the price to **go up** in the long term, potentially reaching the targets mentioned above.
Please note that these are just predictions based on the analysis, and the actual market behavior may differ.
Result: ST=Down LT=Up
Analysis Method(2)
Based on the analysis provided, here is my assessment of the EUR/CAD currency pair's potential price movement:
**Short-term analysis (next few days to a week):**
* The recent breakout above 1.5172 and the bullish engulfing candle on the daily chart suggest a potential uptrend.
* The MACD momentum indicator rising above the zero line also supports a bullish outlook.
* However, there is a risk of a "false" breakout, and if the price breaks below 1.5101, it could lead to a move down to 1.5051.
* Given the recent breakout and bullish indicators, I expect the price to **go up** in the short term, with a target around 1.5200.
**Long-term analysis (next few weeks to a month):**
* The EUR/CAD pair has broken out of a multi-month consolidation pattern, which could lead to a sustained uptrend.
* The Fibonacci price projections suggest potential targets at 1.5228 and 1.5312, which could be reached in the long term.
* However, the alternative scenario of a Double Top bearish reversal pattern cannot be ruled out, and a break below 1.5101 could lead to a move down.
* Considering the breakout and the bullish indicators, I expect the price to **go up** in the long term, with a potential target around 1.5312.
**Staying the same:**
* The current trading range of $1.48 and $1.51, with support at $1.46 and resistance at levels such as $1.47 and $1.48, suggests that the price could remain range-bound if it fails to break out of this range.
* However, given the recent breakout and bullish indicators, I do not expect the price to **stay the same** in the short or long term.
Overall, my analysis suggests that the EUR/CAD pair is likely to go up in both the short and long term, with a potential target around 1.5200 in the short term and 1.5312 in the long term.
Result: ST=Up LT=Up
Crucial EUR/CAD Trade Plans (Short Fall)Market slowly falling within current ranges opens up the door to shorts.
Any sentiment shift favouring risk on may assist fall.
Sell eurcadOur 1 st idea already running 300 pips
Now just wait to break this buy zone then. More sell expected minimum 200 pips in H4 chart.
EURCAD | 06.11.2024BUY 1.49500 | STOP 1.49000 | TAKE 1.50000 | Local correction from massive down moving.
EURCAD The Target Is DOWN! SELL!
My dear subscribers,
This is my opinion on the EURCAD next move:
The instrument tests an important psychological level 1.5115
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 1.5050
My Stop Loss - 1.5151
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
———————————
WISH YOU ALL LUCK
EURCAD 4hr LongEURCAD
✅ 4hr Long ✅
💰ENTRY: 1.51340
👎STOP LOSS: 1.50980
TP TARGETS
⏰TP1: 1.51695
⏰TP2: 1.52066
⏰TP3: 1.52426
✅ 1. Daily Time Frame: Price has been breaking bullish and trending above the 10,50,200 EMAs.
✅ 2. 4hr Time Frame: Price has made a valid pullback into the 10 EMA with at least 2 bearish candles.
✅ 3. Price has made a 123 Advanced Engulfing candle above the 50ema.
This is a great example of the Swing Low Engulfing strategy.
EUR-CAD Will Keep Growing! Buy!
Hello,Traders!
EUR-CAD is trading in an
Uptrend and the pair
Is about to retest a
Horizontal support of 1.5080
From where we will be
Expecting a further
Move up
Buy!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
EURAD 100PIP TKAE PROFIT Support and Resistance Zones
Check for recent support or resistance levels. If EUR/CAD is close to a significant resistance and your take-profit target lies just below it, this could indicate a high-probability area for price reversal.
A large stop loss (320 pips) may indicate potential volatility. Ensure that this stop is placed below a strong support zone to avoid unnecessary loss on sudden market moves.
2. Market Sentiment and Fundamental Drivers
EUR/CAD is heavily influenced by factors such as the European Central Bank (ECB) and Bank of Canada (BoC) monetary policies, as well as commodity prices, particularly oil.
Recent EUR or CAD economic data (e.g., inflation reports, interest rate decisions) could give insight into the market’s bias and help determine if a 100-pip target is achievable.
EURCAD_108 2024.11.05 14:04:04 Trading Signal SELLFrankPro Signal for EURCAD_108
Type: Screen
Signal: SELL
TP: 1.50705
SL: 1.51297
Entry Price: 1.51223
Analysis for EURCAD
Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Probably Up
Forecast Methods(Short-Term, Long-Term):
ST=Down LT=Up
ST=Up LT=Down
ST=Down LT=Up
Analysis Method(0)
Based on the provided analyses, I will provide separate assessments for short-term and long-term expectations.
**Short-term Expectations (next few days):**
* The EUR/CAD pair is expected to move within a narrow range, with a slight bias towards a downward movement.
* The reversal from the key resistance level of 1.5160 and the Dark Cloud Cover pattern suggest a potential fall to the next support level at 1.5100.
* The controlled movements with low volatility and the oversold condition on the RSI14 may lead to a brief drop before turning.
* However, the overall trend remains weak, and the pair is closer to the support level at $1.46 than the resistance at $1.47, suggesting a trading risk/reward intra-day.
**Expected Price Movement:** Down (but within a narrow range)
**Long-term Expectations (next few weeks/months):**
* The breakout from the multi-month price pattern and the Fibonacci price projections suggest a potential strong move higher.
* The bullish engulfing candle on the daily chart and the wave analysis indicate a promising outlook for continued upward movement.
* The target for buying on dips is around 1.5200, and a break above 1.5172 could lead to targets at 1.5228 and potentially 1.5312.
**Expected Price Movement:** Up (with a potential strong move higher)
In summary, while the short-term expectations suggest a potential downward movement within a narrow range, the long-term expectations indicate a potential strong move higher.
Result: ST=Down LT=Up
Analysis Method(1)
Based on the analysis, here are my conclusions for the EUR/CAD currency pair:
**Short-term analysis (next few days/week):**
* The breakout above the multi-month price pattern and the bullish MACD indicator suggest a potential short-term uptrend.
* However, the bearish close and the potential two-bar reversal pattern indicate a possible short-term correction.
* The oversold RSI14 indicator also suggests a potential short-term bounce.
* Therefore, I expect the price to **go up** in the short-term, but with a possible brief correction.
**Long-term analysis (next few months/year):**
* The forecasts suggest a decline in price over the next quarter and year, which contradicts the short-term bullish outlook.
* The horizontal trend and the resistance levels at $1.47 and $1.48 also suggest a more negative long-term forecast.
* However, the long-term Moving Averages are not providing a clear signal, and the general risk is considered low.
* Therefore, I expect the price to **go down** in the long-term, but with a possible range-bound movement between $1.48 and $1.51.
Overall, the analysis suggests a potential short-term uptrend, but a more negative long-term outlook.
Result: ST=Up LT=Down
Analysis Method(2)
Based on the provided analyses, here is my assessment of the EUR/CAD currency pair's expected price movement in both the short-term and long-term:
**Short-term Analysis (next few days to a week)**
* The presence of a strong bullish engulfing candle on the daily chart, as noted in the TradingView Analysis, suggests a potential for upward movement.
* However, the Wave Analysis indicates a reversal down from the key resistance level of 1.5160, which could lead to a fall to the next support level at 1.5100.
* The Breakout and Pattern Analysis suggests a bullish sign with a potential break above 1.5172, but also warns of a possible two-bar reversal pattern indicating a temporary correction.
Given these mixed signals, I expect the price to be volatile in the short-term, with a slight bias towards a downward correction. The price might fall to the support level around 1.5100 before potentially rebounding.
**Long-term Analysis (weeks to months)**
* The Breakout and Pattern Analysis suggests a bullish sign with a potential strong move higher if the price follows through above 1.5172.
* The General Outlook mentions that the MACD momentum indicator supports a bullish outlook, which could indicate a longer-term upward trend.
* However, the presence of potential resistance levels and the possibility of the pair being oversold on some indicators could lead to corrections along the way.
In the long-term, I expect the price to trend upwards, potentially reaching the targets mentioned in the Breakout and Pattern Analysis (1.5228 and 1.5312). However, this move is likely to be accompanied by corrections and potential pullbacks to support levels.
In summary:
* Short-term: Expected to go down (slight bias towards a downward correction)
* Long-term: Expected to go up (with potential corrections along the way)
Result: ST=Down LT=Up
EURCAD_110 2024.11.05 12:30:05 Trading Signal SELLFrankPro Signal for EURCAD_110
Type: Screen
Signal: SELL
TP: 1.50817
SL: 1.51313
Entry Price: 1.51251
Analysis for EURCAD
Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Probably Up
Forecast Methods(Short-Term, Long-Term):
ST=Down LT=Up
ST=Up LT=Down
ST=Down LT=Up
Analysis Method(0)
Based on the provided analyses, I will provide separate assessments for short-term and long-term expectations.
**Short-term Expectations (next few days):**
* The EUR/CAD pair is expected to move within a narrow range, with a slight bias towards a downward movement.
* The reversal from the key resistance level of 1.5160 and the Dark Cloud Cover pattern suggest a potential fall to the next support level at 1.5100.
* The controlled movements with low volatility and the oversold condition on the RSI14 may lead to a brief drop before turning.
* However, the overall trend remains weak, and the pair is closer to the support level at $1.46 than the resistance at $1.47, suggesting a trading risk/reward intra-day.
**Expected Price Movement:** Down (but within a narrow range)
**Long-term Expectations (next few weeks/months):**
* The breakout from the multi-month price pattern and the Fibonacci price projections suggest a potential strong move higher.
* The bullish engulfing candle on the daily chart and the wave analysis indicate a promising outlook for continued upward movement.
* The target for buying on dips is around 1.5200, and a break above 1.5172 could lead to targets at 1.5228 and potentially 1.5312.
**Expected Price Movement:** Up (with a potential strong move higher)
In summary, while the short-term expectations suggest a potential downward movement within a narrow range, the long-term expectations indicate a potential strong move higher.
Result: ST=Down LT=Up
Analysis Method(1)
Based on the analysis, here are my conclusions for the EUR/CAD currency pair:
**Short-term analysis (next few days/week):**
* The breakout above the multi-month price pattern and the bullish MACD indicator suggest a potential short-term uptrend.
* However, the bearish close and the potential two-bar reversal pattern indicate a possible short-term correction.
* The oversold RSI14 indicator also suggests a potential short-term bounce.
* Therefore, I expect the price to **go up** in the short-term, but with a possible brief correction.
**Long-term analysis (next few months/year):**
* The forecasts suggest a decline in price over the next quarter and year, which contradicts the short-term bullish outlook.
* The horizontal trend and the resistance levels at $1.47 and $1.48 also suggest a more negative long-term forecast.
* However, the long-term Moving Averages are not providing a clear signal, and the general risk is considered low.
* Therefore, I expect the price to **go down** in the long-term, but with a possible range-bound movement between $1.48 and $1.51.
Overall, the analysis suggests a potential short-term uptrend, but a more negative long-term outlook.
Result: ST=Up LT=Down
Analysis Method(2)
Based on the provided analyses, here is my assessment of the EUR/CAD currency pair's expected price movement in both the short-term and long-term:
**Short-term Analysis (next few days to a week)**
* The presence of a strong bullish engulfing candle on the daily chart, as noted in the TradingView Analysis, suggests a potential for upward movement.
* However, the Wave Analysis indicates a reversal down from the key resistance level of 1.5160, which could lead to a fall to the next support level at 1.5100.
* The Breakout and Pattern Analysis suggests a bullish sign with a potential break above 1.5172, but also warns of a possible two-bar reversal pattern indicating a temporary correction.
Given these mixed signals, I expect the price to be volatile in the short-term, with a slight bias towards a downward correction. The price might fall to the support level around 1.5100 before potentially rebounding.
**Long-term Analysis (weeks to months)**
* The Breakout and Pattern Analysis suggests a bullish sign with a potential strong move higher if the price follows through above 1.5172.
* The General Outlook mentions that the MACD momentum indicator supports a bullish outlook, which could indicate a longer-term upward trend.
* However, the presence of potential resistance levels and the possibility of the pair being oversold on some indicators could lead to corrections along the way.
In the long-term, I expect the price to trend upwards, potentially reaching the targets mentioned in the Breakout and Pattern Analysis (1.5228 and 1.5312). However, this move is likely to be accompanied by corrections and potential pullbacks to support levels.
In summary:
* Short-term: Expected to go down (slight bias towards a downward correction)
* Long-term: Expected to go up (with potential corrections along the way)
Result: ST=Down LT=Up
EURCAD Is Very Bullish! Long!
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 on a crucial zone of demand 1.512.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 1.516 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!
EURCADhi traders, as we cab see, price is now bouncing towards area or supply,the demaandin 15 min. TF is now taken and creating choch + bos , rto,price now acumulating above supply
Smart money concept.EURCAD i think is going up considering:
1.the 1H uptrend
2.the liquidity and manipulation in 5M.
3.the counter trend in 5M.
4.the supply zone in 30M.
EURCAD, Double TopDouble Top Formation
Weekly Resistance Zone
Bearish Divergence
Enter with Sell Stop
Target Towards major support level 1.4972
Stop loss 1.5170
EURCAD BEARISH TRADE IDEA looks a good trade idea for me
manage your risk and its not a financial advice
EURCAD Wave Analysis 4 November 2024
- EURCAD reversed key resistance level 1.5160
- Likely to fall to support level 1.5100
EURCAD currency pair recently reversed down from the key resistance level 1.5160 (which has been steadily reversing the price from the start of August as can be seen below), strengthened by the upper daily Bollinger Band.
The downward reversal from the resistance level created the daily Japanese candlesticks reversal pattern Dark Cloud Cover – which marked the end of the previous ACB correction 2.
Given the strength of the resistance level 1.5160 and the overbought daily Stochastic, EURCAD currency pair can be expected to fall to the next support level 1.5100, the former resistance from October.
