-Weekly bull move pullback holing right on 26 ema.
-Weekly reverse hnd formation.
-Daily consolidation area with absorption around the 40% of the original bull move.
-Second consolidation with a shakeout around 50% of the move.
Entry after a confirmative strong bull candle-move or after a bullish pattern.
Stop bellow the pullback move that takes...
Hello Traders,
Hope you all are doing good!!
I expect EURCAD to go Up after completing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market...
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...
Here is an EURCAD 15-minute chart, as you can see the price had a bullish reaction to the daily FVG, and also the price created lots of buy-side liquidity, so we expect the upward movement.
Now in the 15-minute chart, there is an untouched bullish order block formed below the sell side, liquidity so we expect the price to get support from this order...
EURCAD is moving from the lower boundary of the channel.
The chart has pushed off from an important support, forming a double bottom.
The price is testing the dynamic resistance.
We think that the price will continue to rebound to the 50% retracement level.
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Share your opinion in the comments and support the idea with a like. Thanks for...
EUR/CAD Bullish After Lagarde's Comments
ECB’s Lagarde commented yesterday:
" The fight against inflation is not over".
Growth in Europe is mediocre, much slower than in the US
We’re clearly seeing timid signs of recovery
The game (of fighting inflation) is not over
This was a hawkish comment made at a time when everyone expected the ECB to cut rates at the...
The reason I'm going long is because All of the time frames are bullish (Weekly, Daily and 4 hour).
It failed to break the Daily support.
There was a 4 hour engulfish candlestick on the Daily AOI hence making it a high probability to continue long.
The trade was taken on a Thursday (good trading day)
The EUR/CAD pair, since January 1st, 2023, has been traversing within a defined range, characterized by notable reversals between support and resistance levels. Recent market movements have unveiled a potential reversal pattern, signaling opportunities for astute traders.
Initiating from its recent peak at 1.5050, EUR/CAD has embarked on a new trajectory, marked...
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...
Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.4715, which is an overlap resistance.
Our take profit will be at 1.4657, a pullback support level.
The stop loss will be placed at 1.4780, a swing-high resistance level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may...
EURCAD can be stopped again from the old structure area
Technical Analysis:
From the previous analysis, EURCAD has failed to break 1.4765.
This zone was tested several times in the past and the price then decreased.
The price may decrease again from this area since we also have the ECB's rate decision on Thursday. It will be interesting to see how the market...
H1 - Downtrend line breakout.
Bullish convergence.
Currently it looks like a pullback is happening.
Until the two strong support zones hold my short term view remains bullish here.
price has reached the first support area, the price may go to next support area before going bullish... some Cad news tomorrow to watchout... but I think price will likely pick up soon... good luck
