Expecting a bullish momentum since we broke the channel / bullish flag.
With the Daily close quite bullish and MACD crossing over. On this 4HR we may have another long opportunity back to 1.50500 - 1.50700 where our trend line is drawn. If you were to draw the fib tool from the bottom of the bullish candle up to the high of the next printed candle (The bearish candle) Price had a 0.50% fib retracement to our resistance turned support...
Respected bounce off the horizontal support, however we are in a down trend but another test of the upwards could occur.
Respected follwers, EURCAD has formed Double top, which indicate bearish signal. We can sell it at current market price with sell limit as mentioned on chart.
As we can see on chart that trend line is falling wedge and market is touching it, so in this way we can assume that market will fall from here. Keep money management.
Today price has tested a daily trendline which is in confluence with the 200ema and has showed rejection of this zone, but there is a secondary zone delimited for two trendlines 4 hour timeframe giving an extended zone around 1.5165 & 1.5190. So, keep an eye be patient and remember tomorrow is friday (trap day) and maybe this will be a good setup for next week.
EURCAD has now hit resistance and price rejected Also Stoch RSI has crossed over confirming the down trend PLEASE LIKE, COMMENTS AND FOLLOW FOR MORE
EURCAD broke out sharply yesterday, expecting this market to drop further, wait for a breakout. Though today is Thanksgiving day so not expecting much, but anyway. Trade Safe. Thanks for your support.
We have BOC rates decision today, looking at CAD rates, EURCAD seems to be good candidate to trade on BOC as this market is struggling at this area with underlying divergence, allowing a wider stop to see if it works out. Good Luck.
EURCAD has retraced to Fibonacci retracement level of 0.382 as previously surmised. from the chart you can see that the bears are slowing taking over as predicted before Also Stoch RSI has turned back down, i am expecting this to drop more. i will update if anything changes See previous analysis also PLEASE LIKE, COMMENTS AND FOLLOW FOR MORE
SEE PREVIOUS ANALYSIS AND AS BEFORE, THIS WILL GO DOWN LIKE, FOLLOW AND COMMENT :)
IF U DIDN'T NOTICE :) I AM EXPECTING A DOWNWARD CONTINUATION AFTER THIS REVERSAL LIKE, FOLLOW AND COMMENT ALSO SEE PREVIOUS ANALYSIS ON THIS PAIR
Hey folks, We have now entered EURCAD buy based off a 1H 50 Bounce ( first pullback to the 50 EMA after 13/50 cross): Price @ 1.52316 SL @1.52116 TP @1.52516 1/1 RR 1% risk on this position Keep in mind, if price CLOSES BELOW 13 EMA we're going to take a scratch and close the trade! Confluences: - 13/50 cross - 25-50 pip pullback - Market Baseline (yellow...
EUR/CAD is offering a good entry point for a short swing trade. FX:EURCAD
Waiting for confirmation candle on the SR for short trade