Great trade so far, again, I missed this trade as it hadn't reached the entry point yet, I'd placed an alert at just above the entry point to signal the drop, however I missed the alert coming through. Very annoying as its looking great so far, not going to enter the trade now as Its too far past the entry.
- For today's trade, we have EUR/CAD. It's trending towards the downside on all the higher time frames, and all the moving averages are nicely following the trend as well.
- We have a 1-hour bearish engulfing candlestick closure, breaking all the moving averages and suggesting bearish power in the market.
- The trade has some room to move before it will re-test...
Expecting a bearish flag for EuRcad into 1.33990.
NB: there’s a rise of oil prices too….Canadian dollar will keep on rising till the end of the economic crisis which is about to start
EURCAD is in A Bearish Trend. So in A Bearish Trend Always Looks For A sell opportunity. We are seeing An ORDER BLOCK AREA Which we had Marked their this is Possible Area from where the Market Could Reverse Again to the Downside
EURCAD has once again approached to horizontal support level where bulls once again show some momentum.
The bullish divergence has started to appear on the RSI. We need one bullish candle on the support to go for long in this pair.
Trade your levels accordingly.
Trade Proposal:
There is a probability of first tp to the proposed ( 1.340 ) Direction line. So, Traders can set orders based on Price Action and expect to reach short-term goals.
Technical analysis:
EURCAD is in Downtrend and It is Expected to Continue Downtrend.
EURCAD has been trading in a range for more than 2 months. The price did attempt to break above it but it failed and is likely to retest the falling resistance breakout area.
We will monitor the price action on the dotted horizontal line and attempt to take a long position.
Trade your levels accordingly.
EURCAD BUY - 4H CHART
IF you like my ANALYSIS and find it successful, support it by liking and commenting. Don't forget to express your different opinions.
If we look closely into what has been happening since yesterday on a lower timeframe, we will notice how it appears that price action has been rejecting the Bearish trendline identified on the daily time frame. In this regard, I want to be looking forward to selling opportunities right below the key level identified at 1.36900
Risk Disclaimer:
Margin trading in...
X2 Position
1. Sell: EUR / CAD
Sell limit: 1.37530
SL @ 1.37840
TP1 @ 1.36740
TP2 @ 1.36250
Max Risk: 2%
2. Sell: EUR / CAD
Sell limit: 1.37900
SL @ 1.38160
TP1 @ 1.36740
TP2 @ 1.36250
Max Risk: 2%
(When calculating, do not forget about different spreads from Brokers)
Leave comments or likes to keep our content free and alive.
Have a good week to everyone
It...
EURCAD has given a breakout from long-term falling resistance after 4 months.
The pair looks bullish as after the double bottom formation, the price is making higher highs and higher lows.
One can form different strategies here;
1. Buy at the current price
2. Buy on a retest of the trendline.
3. Buy on breakout of horizontal level 1.37713.
Manage your risk...
