EURCAD marginally turned bearish on its 1D technical outlook (RSI = 44.842, MACD = 0.001, ADX = 27.243) as it hit both the 1D MA50 and 1D MA200 today. That is dead neutral on a 15 month basis as the pair has been on a wide ranged price action since the start of 2023. Currently it sits exactly at the middle of this pattern on the 0.5 Fibonacci level. This gives us...
Hi fellow traders, EURCAD is ready to drop lower from the blue box after completing the WXY correction. Target the 1.43800 level and move your stoploss to break even as soon as we hit the grey 'risk free zone'. The trade will be invalidated if we break higher out of the blue box. Good luck and trade safe!
EURCAD is on a strong rise following the double Support test as outlined on the plan we published 6 weeks ago (see chart at the end). The 1D timeframe is on green technicals (RSI = 64.005, MACD = 0.003, ADX = 30.986) but the RSI is near the top of the 8 month Channel Down, so it would be justifed to see a technical pullback near the 1D MA50 before the 2nd part of...
EURCAD is on the bearish leg of the Ascending Triangle pattern that targets the S2 Zone (1.42400 - 1.42800). Obviously the 1D technicals are bearish (RSI = 36.214, MACD = -0.006, ADX = 52.689) and our bearish target is the top of S1 at 1.43850. Regardless of S1 or S2, we have timed our long term buy entry when the 1D RSI turns oversold at 30.000. As you see the...
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
