Please view my related idea below to gain more insight to my thoughts on this pair. I would now say I am highly interested in a long position, I will be waiting for a significant pullback to get an ideal RRR trade.
En este par a pesar de que no a roto la micro-tendencia bajista, se encuentra haciendo altos mas altos y se acaba de crear un pequeño canal alcista, asi que se podrian presentar dos escenarios ya que el precio a fallado en el intento de seguir subiendo, podríamos estar viendo un pequeño impulso bajista que respete el extremo inferior de ese canal o vuelva a tocar...
I am still not 100% sure if this pair has shown signs of a fake breakout, we will need to monitor the price on Monday and wait and see whether or not price wants to continue ot respect the ascending trend line or trade outside it again. Definitely one to keep on your watchlist, lots of potential for an upside move here. COT Data - 72% Short
Cup and Handle in EURCAD Daily, look for buys.
EUR_CAD has bounced from resistance confluence. (1) IT is now moving along the small diagonal support. (2) If reached again, I expect a bounce up. (3) Possible channel resistance breakout. Then>>> (4) Next test of the diagonal resistance+ new higher high for new channel. ................................................. LIKE and SUBSCRIBE for CARMA BOOST!!
Hello guys, My trade setup for today is EURCAD pair, it is very possible this pair could continue going up as there is already all the confirmation needed to go upwards. 1st confirmation is price above the kumo cloud 2nd confirmation is kumo has changed from red to green 3rd confirmation is parabolic SAR switched to below the price indicating buy pressure Buy...
I followed this pair closely in the past 2 weeks with a clear idea, the drop from 1.6 is corrective in nature and EurCad should resume its bull run. Now the pair is trading close to downward channel resistance and I expect a break soon. Dips around 1.55 should be bought and as the first target 1.57 should suffice for now.
As I published early this week, tomorrow will be the Bank of Canada's meeting, the market doesn't wait a particular change, so the reaction of the pair EURCAD, will be affect by the stimulus and economy outlook.
The price could not reach the forecasted TP from the previous short position, unable to break the demand zone, the price has gained some force from buyers changing the previous downward bias. Long entry was filled after the EMA's golden cross and heading towards the TP level around the descending trendline. The order: Type: buy-stop S/L: 21 pips - R:R | 1:3...
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The 1,545 level had became in a support, so we should wait to retest that zone again to enter into the trade in the renounce to 1,555.
Again CAD weakness expected.. looking for buying opportunities
Yesterday, EurCad respected 1.5430-15450 support zone and turned violently from this point. A small correction could follow from this point and this can give buyers the opportunity to open a long trade at a better price. That being said, buy dips is my preferred scenario for this pair with a target at 1.57 resistance
Hello Guys! So this is my EURCAD entry for today with 1:3 RRR. Its totally up to you to take the trade or not its just for education purpose, I am already in the trade and running profit with zero draw down. The Bearish lose its momentum so i locked in a long position for a quick profit. Thank You
SELL EUR/CAD ,BUY area N1 : (Blue) TP1/TP2 : (green) , SL : ( RED )