EURCAD trade ideas
EUR_CAD WILL KEEP GROWING|LONG|
✅EUR_CAD keeps growing
And the pair made a breakout
Of the key level of 1.4900
Which is now a support and
Then made a pullback, a retest
And a rebound so we are now
Bullish biased and we will be
Expecting a further bullish
Move upwards
LONG🚀
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#EURCAD Daily Forecast we see still eurcad bullish trend . market mitigage weekly OB & then Daily OB point now again Break Low point and give us FVG so we will wait for Confirmation and then we will enter for a trade when market reach in our Daily FVG .
Potential Long Opp on EURCADSome confluences telling me this pair will rise.
- RSI divergence on H1
- Validated trend line on H4 broken
- RSI overbought on H1 and H4 which will cause price to retest blue highlighted area.
What do you think?
EUR/CAD Daily AnalysisPrice has broken above and retested 1.49 which was support numerous times from August onwards this year.
The final 3 days of trading last week saw a Morning Star pattern being printed which can be a reversal at support.
If you agree, look for opportunities to buy which meet your strategy rules. A final target of 1.5160 could be something to consider.
EURCAD - LongEURCAD Analysis - LONG 👆
In this Chart EURCAD H1 Timeframe: By Nii_Billions.
❤️This Chart is for EURCAD market analysis.
❤️Entry, SL, and Target is based off our Strategy.
This chart analysis uses multiple timeframes to analyze the market and to help see the bigger picture on the charts.
The strategy uses technical and fundamental factors, and market sentiment to predict a BULLISH trend in EURCAD, with well-defined entry, stop loss, and take profit levels for risk management.
🟢This idea is purely for educational purposes.🟢
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EURCAD - LONGAnother buy set up here
Ascending channel with strong support and resistance zone
Strong rejection at the support line of the channel
Strong rejection at a key previous resistance zone at 1.4970 - a zone that can be traced back to 2023
Following the 200 day EMA on the 1D time frame, this pair has been bullish overall since October 2023 - We are keeping with this trend with a buy order
Stop set at 1.49000
EURCAD - Long TradePrice with ascending channel support & no bearish divergence indicate continuation of bullish trend.
Eurcad demand setup 2nd entry aggressiveEurcad second entry aggressive
Price is still respecting my demand zone so i entered a second time
EURCAD BUY OPPORTUNITY!There’s a recent pullback in price which is a good opportunity to buy the pair. Our take profit level is at 1.49514 our stop loss is at 1.48638
Risk wisely!
Eurcad demand setupEurcad demand setup
Price is holding the 13 ema on the 15min chart and we had a nice rejection at demand zone.
Is EURCAD ready to resume the DownTrend?In recent days, the EUR/CAD pair has exhibited notable fluctuations on the daily chart. After reaching the 1.5170 level, a significant resistance point in recent years, the price began to weaken and entered a consistent decline. This area served as a crucial psychological and technical barrier, leading to increased selling pressure. The price subsequently fell below the sideways support at 1.4900, indicating a short-term reversal. The decline continued aggressively, breaking through the 1.4610 support level, another key point on the daily chart, underscoring the strength of the sellers.
Following this sharp decline, the pair experienced a pullback, returning to the previously broken 1.4900 area. This region, which had acted as support, now functions as significant resistance. This zone aligns with the 61.8% Fibonacci retracement level, drawn from the high of 1.5170 to the low of 1.4483, further emphasizing its technical importance. Given these factors, the expectation is for the EUR/CAD to continue its downward trend in the coming days.
Potential Sell Trade
A favorable selling opportunity may arise if the price closes below 1.4870 on the daily chart. Such a move would confirm rejection in the 1.4900 area and pave the way for further declines.
Sell Details:
Possible Entry Point: Close below 1.4870.
Stop Loss: Above 1.4980, representing a risk of 110 pips.
Take Profit: Near the 23.6% Fibonacci retracement level at 1.465, with a potential gain of 220 pips.
Alternative Scenario: Bullish Resumption
If the price does not close below 1.4870 and instead breaks the recent candle's high, we may see EUR/CAD retest the 1.5170 region. Such a move would invalidate the short-term bearish outlook and could attract new buyers.
It's important to note that the market is closely watching the Bank of Canada (BoC) interest rate decision today, with expectations of a 0.5% cut, reducing the rate from 3.75% to 3.25%. This could weaken the CAD, favoring an increase in EUR/CAD. Conversely, if the cut is smaller than anticipated (e.g., 0.25%) or does not occur, it may accelerate the pair's downward movement, given that sellers are already in control.
In Summary
The EUR/CAD is at a critical juncture, facing strong technical resistance at 1.4900 and showing signs of rejection at the 61.8% Fibonacci level. The likelihood of a decline strengthens, especially if the price closes below 1.4870, with target levels at 1.4645 (the 23.6% Fibonacci). However, traders should also consider the alternative scenario of breaking the recent high and advancing to 1.5170. Close monitoring of price action and the BoC announcement is essential for making informed trading decisions, as this could significantly impact the pair's direction.
Disclaimer
74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
EUR/CAD Daily AnalysisPrice is back above 1.49 for the first time this month.
Over August to November, price bounced between 1.49 and 1.5160 several times as the market was rangebound.
Will the market now head towards 1.5160 again?
There is a BOC rate statement coming up this week. Rates are expected to be reduced.
A weaker CAD could help with the push higher.
EURCAD Buy ForecastEURCAD New forecast👨💻👨💻
Note:
Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP.
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EURCAD Short SignalAnalysis: Why EURCAD is bearish
1. inversion fair value gap (IFVG):
Price has reached the marked Inversion Fair Value Gap (IFVG) at the 1.49589 area, which serves as a resistance zone. Liquidity is often tapped in such areas before a reversal movement sets in. The decline from the IFVG area indicates that sellers have become active.
2nd Fibonacci retracement level:
The 70.5% level (1.49630) is a significant resistance area. These levels are often used to open short positions, especially when they coincide with other resistance indicators, such as the IFVG in this case.
3rd order block (OB-):
Price has tested a previous bearish order block (OB), which is also in the resistance zone. This area is often used as an entry point for sellers, as many sell orders are collected there.
4. structural reversal:
The recent move into the resistance area shows a clear reaction, indicating a possible reversal to the downtrend. As long as the price does not form significant higher highs, the overall structure remains bearish.
Conclusion:
EURCAD is showing clear signs of a bearish reversal. The IFVG area, Fibonacci resistances and the order block reinforce the case for a short position. A potential target could lie in lower support areas if the price continues to form low highs and lows.
Translated with DeepL.com (free version)
EURCAD is in a Bullish Pattern After Testing daily SupportHello Traders
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EUR/CAD - Weekly Analysis"On Monthly:
200, 50 and 20 EMA are showing Bullish move as the overall move indicates.
Price moving back down to test 1.47140 another Psychological Support , but it didn't reach and pulled back up.
It seems it's moving up toward 1.52000 a psychological resistant.
-- On Weekly:
Two solid Bullish candle revered the bearish attempt and price is moving towards 1.5070. All three EMAs, 200, 50 and 20 (RGB) are on order supporting Bullish move.
--On Daily:
The inverted Head & Shoulders has broken neck and Bullish move is going full steam.
All three EMAs, 200, 50 and 20 (RGB) not sequentially, but they are supporting bullish move.
-- On Hourly:
it seems, it has created Rising Wedge, showing exhaustion of Bullish move.
Additionally, RSI is clearly showing a great Divergence for Bearish reversal despite the all three EMAs, 200, 50 and 20 (RGB) supporting Bullish move."
EUR/CAD - My projectionI think that this is what will happen to EUR/CAD. It could bounce up further finding resistance at the previous resistance but could also be forming a new support and resistance from the break low. Resistance could be current price. I think that this is the case for this weeks open.
Watch for the price to decide direction then make your play responsibly.
eurcad4H time frame now price is near strong horizontal resistance bias is bearish target price is 1.48033
SELL EURCADLooking to sell EURCAD here after this clear bearish flag pattern. Waiting for the market to turn around to sell.
EURCAD Wave Analysis 6 December 2024
- EURCAD broke resistance zone
- Likely to rise to resistance level 1.5000
EURCAD currency pair recently broke the resistance zone located between the resistance level 1.4865 (which has been reversing the pair from the middle of November) and the 50% Fibonacci correction of the downward impulse wave C.
The breakout of this resistance zone accelerated the active intermediate impulse wave (C).
Given the clear daily uptrend and the strongly bearish CAD sentiment seen today, EURCAD currency pair can be expected to rise toward the next round resistance level 1.5000.
EURCAD Is Bearish! Sell!
Take a look at our analysis for EURCAD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1.485.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1.478 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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