EURCAD is alos approaching resistance where we expect a drop below this level
EURCAD is in uptrend since 29th June and now at good buy level. I am expecting to go price near to 1.53000-1.53500 zone for good risk reward ratio.
EURCAD Sell Trade Idea:: SL and TP on the Chart:: This Is A Nice Sell Opportunity To Look For Sell Set-Ups (Setting Up Nicely For A Long Term Trade). This Can Also Act As A Nice Entry ((But For A Quick Profit))
Technical Analysis i) The lows at the end of May kissed the .236 fib level producing a substantially large wick, an indication that the bears are losing momentum. ii) This was followed by a strong Bullish Pin Bar which printed on the .5 fib level suggesting that the May lows (.236 fib level) had a strong potential to be a reversal for the short term. iii) We...
Selling EURCAD at CMP or after a minor pullback based on price action and indicator signal.
Another Trend Continuation Trade EURCAD ! Looking For An Uptrend Continuation! However, trade with caution, this pair has been eratic of late.
I was stopped out from my set up to counter trend trade this pair. Well, I'm disappointed but losing is part of trading and as long as I know how to manage my own risk on every trades, I'm ok with it. I'll keep watching on this pair if the price can break the resistance level and wait for price action on the pullback to take long position. If this pair does not...
Counter Trend Trade. My idea is to trade the pullback at least to the first bear fractal on the 4H chart. Daily chart shows a big bullish candle and the price may still goes up touching the top line of the resistance level. My psychological resistance level is based on the resistance level in 2016 previously. Why I take this trade is because the inverted hammer is...
Previous resistance becomes support and 0.618 fib has been tested on the daily time frame. great opportunity to stay long on EURCAD.
Using the Daily chart trend, I'm expecting a strong sell on EURCAD.
I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade. For the past days, I've been obsessed with Canadian Dollar pairs. If this Forex pair does break the graphed line, it may possibly dip to the 1.42500 area.
Our preference: lighten as long as 1.4707 is stopper with 1.4491 as objective. Alternative scenario: the overflow of 1.4707, will validate an increase over 1.4785 and 1.4832. Comment: The RSI is below its neutral zone of 50. The MACD is positive and below its signal line. The MACD must press the zero line to confirm a continuation of the drop. In addition, prices...
EURCAD .Waiting for a close outside this range (around 1.4495 level) then I am selling this pair.
After the huge decline of the Euro and Loonie Forex pair, it has formed a consolidation on lower time frames showing that it may continue its decline later on with the formation of a descending triangle.
EUR/CAD is currently in a bearish trend and can extend it's loss 300+ more pips down. This is definititely a trade opportunity to keep an eye on. As always, money manage properly and invest only after your own analysis. Happy Trading!