Price is falling towards a support level which is a pullback support that aligns with the 78.6% Fibonacci projection. A bounce from this level could lead the price to rise to our take profit. Entry: 1.46155 Why we like it: There is a pullback support level which aligns with the 78.6% Fibonacci projection Stop loss: 1.45877 Why we like it: There is an overlap...
Price is rising towards the resistance level which is an overlap resistance which aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.46671 Why we like it: There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 1.47033 Why we like it: There is a pullback resistance...
The EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level...
After price retested a daily golden zone, it gave us a shift in market structure on the 4h time frame signaling a potential beginning of a reversal. Price has now formed liquidity above the 4h golden zone that it could use to fuel it's move further to the upside.
EURCAD marginally turned bearish on its 1D technical outlook (RSI = 44.842, MACD = 0.001, ADX = 27.243) as it hit both the 1D MA50 and 1D MA200 today. That is dead neutral on a 15 month basis as the pair has been on a wide ranged price action since the start of 2023. Currently it sits exactly at the middle of this pattern on the 0.5 Fibonacci level. This gives us...
Hey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.46800 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.46800 support and resistance area. Trade safe, Joe.
Price is falling towards a solid support zone which aligns with the 50% Fibo retracement and the Ichimoku cloud. A bounce from this level could lead the price to rise to our take profit. I'm bullish biased
EUR/CAD is currently on a resistance level which is a pullback resistance level and could reverse from this level to our take profit Entry: 1.47378 Why we like it: There is a pullback resistance level Stop loss: 1.47789 Why we like it: There is a pullback resistance level Take profit: 1.46630 Why we like it: There is an overlap support level which aligns with...
EUR/CAD is currently on a resistance level and could reverse from this level to our take profit Entry: 1.47378 Why we like it: There is a pullback resistance level Stop loss: 1.47789 Why we like it: There is a pullback resistance level Take profit: 1.46630 Why we like it: There is an overlap support level which aligns with the 38.2% Fibonacci...
Price has broken out of an overlap resistance level which aligns with the 61.8% Fibonacci retracement and could rise from this level to our take profit Entry: 1.46630 Why we like it: There is an overlap resistance level which aligns with the 61.8% Fibonacci retracement Stop loss: 1.46258 Why we like it: There is an overlap support level Take profit: 1.47338 Why...
Hey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.46900 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.46900 support and resistance area. Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.46050 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.46050 support and resistance area. Trade safe, Joe.
The EURCAD pair has been trading within a 12-month Channel Down and is currently reversing after a Double Top rejection on Resistance 1 (1.47825). Following the 1D MACD Bearish Cross, this has the potential to initiate Phase 2 of the Bearish Leg that started on the November 21 2023 Lower High. Technically this should be at least a -4.47% Bearish Wave, similar to...
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Traders, Let's assess EUR/CAD's daily zones and accompanying considerations: Wait for LTF Confirmations: Exercise patience and await confirmations from lower time frames before making trading decisions. Monthly RSI: Suggests a range zone, indicating potential stability. Weekly RSI: Indicates a potential bearish move, urging caution regarding long...
The currency is purposefully moving towards the resistance at 1.4728, which plays the role of the upper boundary of the flat. Accordingly, the global trend is downward and the resistance area in this context plays a key role before further decline. Reasons for further decline: 1) Counter-trend correction 2) Liquidity and resistance areas at 1.4728 are strong...
I see a nice bearish reaction to a key daily horizontal resistance on NZDCAD. After a test of the underlined blue area, the price started to consolidate and formed a horizontal range on a 4H time frame. Its support was violated and for us, it is an import sign of strength of the sellers. We can expect a bearish continuation now at least to 0.83 ❤️Please,...
The EUR/CAD pair on the M30 timeframe exhibits a bearish signal due to a well-defined downward channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Key Points: Bearish Channel: The price has been confined within a descending channel characterized by two falling lines, one for resistance and one for support. This pattern...