EURCAD-pullback to EMAs and trendline resistances

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Short

Euro Fx/Canadian Dollar (FX:EURCAD)

FX:EURCAD Euro Fx/Canadian Dollar

I expect more weakness on all EUR pairs, especially here because all commodity currencies will continue to get stronger and the OIL seems to be starting a rally.

Details on chart.

Regards.

Trade closed: stop reached

great to hear... I am in that oil trade...

webmiztriz

good luck !!, i missed the oil trade because my broker does not offer that commodity anymore

I'm long. I think it's a long term long setup actually.
If target #1 here is hit I'll add.
Target #2 looks like a stretch.

IvanLabrie

Thanks for sharing, i think this is just a pullback looking at W1 and D1 charts (not showing them). Regards.

FullTimeTrader

Pullback in the larger uptrend?

IvanLabrie

From my point of view the downtrend started from 1.55000

FullTimeTrader

I see. Looks like a correction to me, but well.
We'll know soon enough.
Good luck!

FTT,

So, in Simple terms. Where should we short with Target. At D1 support ?

FlameBlazer

I Clicked on the Rectangle bar and it did show me the R&R . Thank you

FlameBlazer

Hello, the targets are clearly shown on chart. But every trader could manage targets may differente ways. Regards.

Thanks fulltime

manijeh.kazemi.33

Nice count! same view. This pairs likes zigzags so the ABC is right now my prefered scenario. Regards.

there are two scenarious for eur cad

manijeh.kazemi.33

I doubt the EUR will rally according to my technical long term analysis. I dont now how the EW count will unfold but will focus mainly on shorts. The fundamentals also counts (more EUR QE coming and OIL bottoming).

the bearish idea would be confirmed if the rate breaks below 1.4548

we can test that?

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