Eurcad strongly hold above 1.39 level and now Trading around 1.4085 level as long as its above 1.38 level we
can see a upward where Target may b 1.44-1.46 will not surprise also its change its trend down to up and above weekly pivot 1.3930.
Buying zone 1.4085-1.3930 sl below 1.38 TP1 1.44 TP2 1.46
i want to share with you some of my analysis here on EURCAD.
Right now we are sitting on a daily support level (blue line), which was rejected more than once by price.
We have just put an engulfing candle after a 1pip-missing double bottom.
This could be the first signal of a big reverse, together with that huge rsi divergence going on for the last...
Carleton Capital Exclusive are looking to SHORT EUR/CAD from 1.4646 as our Trade of the Week.
We are currently at 1.4523 (10:17)
Historically the area 1.4612 to 1.4682 as been an active area and all the indications are that should this pair move north this week then this area will come into play again.
1.4646/7 looks to be a likely reversal point this being a...
EURCAD tested resistance above twice and finally came down with a weak candle. Look for downside breakout around yesterday's low, the target is around 1.4520. Be careful about the 100% fib extension at 1.4580.
Price is going to break the previous high and move towards the target 1 and 2 once it has breakthrough the holding of this strong resist zone. capture the trade when price pullback from the resist zone to near the support levels.
Canada dollar was the strongest currency on last Friday while euro was very weak, which gives us potential short opportunity in the coming week. Let's see if we could have short entries soon. It is highly likely that price will drop and test the trend line support below.
If the temporary low at 1.44948 holds over the next few days, i will be entering a short at 1.50114.
Reasoning: 61.8% re-tracement level, respected daily breaker, potential to take un-taken highs and capture liquidity.