Just entered this trade on the short side.
Last friday we saw a massive rally across most EUR pairs and for many EUR pairs that upward momentum has ceased.
This is highlighted by the yellow box where the trendline angle has been broken.
Been waiting all day for this entry and it finaly was triggered.
Expected target is around 1.4290 giving it a over 90 pip ...
Just entered this trade on the EURCAD.
We broke the upward trend this week and we are now seeing a sell off for this pair along with all the other EUR based pairs.
For that reason this is technical based play where I'm expecting further downside momentum to continue.
Expected Target is around 1.4110
This is something that I just spotted that merits a bit of attention today. The CAD has of course been weak given the recent rate cut by the Bank of Canada on top of the fall in oil prices. Meanwhile the euro is holding well with renewed capital inflows into Eurozone equities markets plus the Greek vote that just went through. Technicals don't necessarily point to...
The EURCAD cross is clearly bearish below 1.375, and renewed selling pressure would suggest a fall back to the 1.337 support. The daily RSI is also below a key resistance level. The current levels are attractive for short strategies with stops above 1.375 and a take profit at 1.339.
Since 3/19 the Euro has been selling against the CAD in spite of lower oil prices. More Euro buying led to a period of consolidation from 9/4 to where price is now. While price made a new low on 11/24 price now is higher. The 1.4450 level has served as support and resistance on 7/4, 7/23, 10/16, and again today.
While price has rallied recently the broader...
Hello, Welcome to my daily analysis of forex pairs.
Today I would like to focus on EUR/CAD and CAD/JPY. Given the weakness in EUR currently and the momentum in CAD, I see a good chance to trade these pairs.
I have uploaded a video explaining my analysis and trade entry ideas below. There is a possibility to capture about 200 pips in EUR/CAD and about 450 pips in...
EUR/CAD should soon presents a great opportunity to sell with good R:R.
The pair should rally in 5 waves in a FLAT structure coupled with RSI divergence. Rally should be faded at 1.468 - 1.475 region with a target of 1.41.
Good luck and trade safe.
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