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This pair is currently testing its long term support line, which has held for nearly two years. Following a touch of the lower Bollinger band, and a recent MACD crossover, this hints at a reversal in price action to the upside may be to come.
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5115 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
The RSI bounced from the resistance #1 at 48 and it prevented price from more gains.
A peak is...
this time we're going with the trend and we're not anticipating any kind of reversal. Instead, since we saw a recent break and close above the Previous Resistance Level (pointed out in the chart) we're now looking to ride the trend untill we get to the next reversal point that will come all the way up to 1,5780. So i went on lower timeframes such as the...
Almost from the beginning of June EURCAD moves south. As a result of these declines market broke local -1.75% support at 1.4985 and reached lower limit of a long-term consolidation where yesterday first demand response occurred.
Rejection of currently tested support could open the way to growth which would lead to a re-test of the previously broken support (now...
With the DTF TDI signalling SELL and the H4 TDI signalling BUY its unclear which way this pair are headed. EURCAD is in a down trend as long as we remain below the 200 sma on H4 and DTF so the BULLS will need to take the price above 1.4279 to change the BEARISH picture.
Price may head north initially but as long as we remain under 1.42 any pullbacks should be sold
i've already published few days ago an idea on this pair. Unfortunately we weren't able to take advantage of that idea, but now price has given us a second chance. It has came back to retest the daily structure level (that also lines up with the 618 retracement and a round number) and has formed a nice pinbar showing us some buying rejection.
i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio.
This level also lines up pretty well with the 618 retracement and the...
this is a Gartley advanced formation that's about to complete. I think it could be a good idea since price is fronting a structure level that has been respected in the past. I'm using a AB=CD pattern as entry technique in order to have a better risk to reward ratio.
Stops below X, targets at .382 and .618 of AD leg.
Feel free to comment below...
i want to share an interesting opportunity that i spotted on EURCAD. In this par on the 4 chart price is consolidating right at a previous daily support level. As such, i seek for trading opportunities down on the hourly chart. Here we can see two different opportunities, both long.
The first is a Bat pattern, the second is a 2618 trade.
Both the entry...