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Currency Pair: EUR CAD Trend Predicted: Down Trend, SHORT. All major indicators are showing a Strong Downtrend of EUR CAD. Multiple indicators have been used, including More updates will be available shortly Bollinger Bands and 100/200 SMA.
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falling wedge pattern has occurred which should hopefully break into the upside and reach higher price rates. I'm looking to reach the 1.30 and take profit from there.
price found support zone and the price looks very pressured into breaking out as well so I'm hoping buyers will come in strong.
short term goal, it is following a downward channel and wait for retracement to confirm trend pattern.
inverted H&S was shown in the 1hr timeframe of the pair so looking to buy above neckline
cad/usd should hopefully form double top formation to match with the resistance being targeted couple times.
There is a channel forming and while at the base the Stochastic indicator is in oversold territory. the label 'Potential Trade' show a 4 to 1 trade at these levels, but we will wait until we get the stochastic turning up to get a confirmed entry signal. Then we will set up the stop loss and take profit levels. The main stop loss will probably be at the orange ...
Resistance at the yellow horizontal line. the retracement is at a 0.618 on Fib. Trend line sloping downwards. down trend on higher time frame. stochastic crossover above 80. confluence of multiple signals to the downside
It follows a XABCD pattern which shows a consistent pattern with no breakage of pattern.
Taking T/P at 566.2 pips hopefully and S/L as 147.1 pips as a market order.
Dash trendline seems to be showing a slight ascendance to the profit hopefully + previous support shows a massive long term setup if it moves with the pattern.
Both support and dashed trendline seem to be in correlation with each other.
We can wait for the market to retrace onto the bold trendline in which should give us a deeper profit goal.
Price could retrace back because it touches the resistance line many times and it is appearing to retrace back quite a lot due to many swing highs and less swing lows.
Was going through this pair when I saw a flag emerging. Price has touches and tested the support line various times (green arrow indicates the testing of the support line).
Hopefully this should be a strong upward trend which should hopefully break through the trendline.
Nice risk/reward ratio setup that will make you a lot of profit and won't eat into your ...
As you can see in the 1 hr timeframe, you'll see a downward trend emerging in a WXYXZ pattern with the Z hopefully play part in the formation.
Also drawn on the chart was a green support zone which indicates the market moving to the uptrend as the previous candles are touching this support line approximately 4-5 times.
This gives me enough indication that the ...
DJI long coming up.
Short to 7260 area. Price has violated 200sma, might retest but I'm not expecting it to break back above.
Simple Butterfly on the 1HR/4HR timeframe, not 100% with this trade setup so caution is advised.
A sweet Butterfly pattern has formed on the 1HR chart for GBP/CAD
Sadly missed the initial drop, but looking to enter at a better price within the PRZ, take profit is around 95 pips.
My bias is continued Dollar strength and my higher time frame analysis has USD/CAD bullish.
The pair are reacting around the 1 hour support (green line).
i would go long here expecting a pattern similar to the one drawn in purple