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EURCAD trade ideas

EUR/CAD BUYFrom a technical analysis perspective, the 1.48 resistance level is critical, and the euro is currently testing this level. If it manages to break through, the next target could be the 1.49 level​ (Traders Union)​. However, if the pair fails to hold above this level, it may fall back into the 1.46-1.45 range​ (DailyForex)​. Fundamentally, the market is influenced by economic news from Europe and Canada, as well as oil price movements. Potential rate cuts by the European Central Bank (ECB) and fluctuations in oil prices are significant factors. For example, a drop in oil prices can weaken the Canadian dollar, given Canada's role as a major oil exporter​ (FX Empire)​​ (Traders Union)​. Overall, the EUR/CAD currency pair might remain in a consolidation phase in the short term, with traders closely monitoring key technical levels and fundamental news to determine the next moves. Market sentiment is mixed, and volatility is expected to continue in the near future.
Long
by xMoranTomx
EURCAD Possible Short Position BBMA OA ReEntry Zone Zero Loss4H - Re-Entry 1H - 50 EMA Rejection + Bollinger Band Rejection 15m - Entry in MAHILO Note: * Cancel trade or cut-loss when candle close Above MAHI (2 Green Color Lines) in 4H * 1:3 RRR * TAYOR A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis
Long
by GreggiBond
EURCAD ShortPrice Action Trading Daily Bias Bearish. Price enter into H4 broken support level and rejected from that level after forming a wedge. The price break through the last H1 support and H1 bullish trendline. This is a sign that price has strong rejection from that H4 new resistance level. H1 resistance is pretty strong. Set Short trade with SL above swing high. As it is trend following, R:R targeting new swing low with R:R 1:4. Trade management will be in placed after 1:1
Short
by royschen07
1
EURCAD - 4hrs ( Sell Trade Target Range 180 PIP ) ☑Pair Name : EUR/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money Key Technical / Direction ( Short ) Type : Mid Term Swing ——————————— ☑Bearish Break 1.46800 reasons - Major Turnn level / D - pattern Break - Fixed Range Break - Visible Range Lvn - Channel Break - Fibo Golden Zone - Choch Zone ☑Bullish Reversal 1.44500 Area Reasons - Major Turn level / M - Pattern Target - daily Choch - Trend Line Area - quarter's low Area - Fibo Golden - Visible Range Lvn
Short
by GoldenEngine
1
EUR and Lonie bearish (EURCAD)We start the day with slightly positive stocks in Europe, after yesterday the US indices closed with the S%P500 and Nasdaq closing negative and the Dow Jones closing slightly positive. The Canadian index closed higher with the S&P/TSC Composite up +1.36% after positive earnings releases in energy, socimis and utilities boosted the Toronto index. Highlights: Africa Oil Corp (+10.34%), Birchcliff Energ Ltd (+6.47%), First Quantum Minerals Ltd (+6.13%). Falling: Osisko Gold Ro (-5.39%), Energy Fuels Inc (-4.94%), Celestia Inc (-4.92%). The difference between bullish versus bearish stocks meant that the Toronto Stock Exchange ended barely unchanged, with volatility in its VIX index dropping to 9.05. Spain publishes quarterly and annual GDP growth data, and we have auctions of British 10-year bonds, and short-term bonds from Italy and Germany. In the afternoon, important inflation and production index data are released in Canada, closing the afternoon with US data from the Chicago Fed on activity, and Johnson's Red Book on sales. U.S. home price data will also be released, as well as the Richmond Fed's index of manufacturing, services, and shipments. The Dallas Fed will release services data and closing statements from Governors Cook and Bowman of the Fed's board of directors will possibly provide a review on rates and on the policies being pursued by the Fed. If we focus on the EURCAD, the cross has left the highs of June 6 with attempts to return to the upside. Yesterday a bearish reversal signal was given. Following the directionality of the whole month, we can see that at least the cross should return to the resistance zone between 1.45774 and 1.45417, touching a possible floor at the low of 1.44434. But it is expected that the price will correct to the upside. At the moment the RSI is oversold by 44.5% so this added to the price bell with the control point at 1.47310 would be possible a return to that price zone most traded since early March. Ion Jauregui - ActivTrades Analyst ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Long
by ActivTrades