EUR/CAD LONG FROM SUPPORT
Hello, Friends!
It makes sense for us to go long on EUR/CAD right now from the support line below with the target of 1.611 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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Will EURCAD rise from a strong Support Level ?Hello Traders
In This Chart EURCAD HOURLY Forex Forecast By FOREX PLANET
today Gold analysis 👆
🟢This Chart includes_ (EURCAD market update)
🟢What is The Next Opportunity on EURCAD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Price is in a nice sequence for a continuation shortPrice tapped the previous HTF high in the form of a 3-touch structure before starting a bearish move with almost perfect sequence.
After the first impulsive move, the continuation structures became larger further into the run.
We are now trading through an AoI to the left, and price is forming a bigger continuation bear flag structure. Considering we are further in the run, I am looking for a clear confirmation to enter a short trade, preferably with 2x bearish H1 high-test candles on top of the structure or a H4 reversal candlestick pattern.
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👉 The pairs I publish here are usually discussed in detail in my Weekly Forex Forecast (WFF) and are now showing further developments or price action worth mentioning.
Remember, technical analysis is subjective; develop your own approach. I use this format primarily to hold myself accountable and to share my personal market views.
⚠ Ensure you have your own risk management in place and always stick to your trading plan.
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EURCAD – Potential Short OpportunityEURCAD is currently at a very good level for a short position.
If you spot a valid sell signal, you can consider entering.
In case the level breaks, a long position could also be possible — but you need to be very experienced to distinguish between a fake breakout and a real one.
Bearish drop off?EUR/CAD has rejected off the pivot which acts as a pullback resistance and could drop to the 1st support.
Pivot: 1.60852
1st Support: 1.59637
1st Resistance: 1.61356
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EUR/CAD🔹 Trading Outlook
Bullish Case (preferred if breakout holds):
Entry: On retest of 1.6050 – 1.6060 support (previous resistance).
Target 1: 1.6100
Target 2: 1.6140
Stop-loss: Below 1.6020
Bearish Case (if breakout fails):
Short on rejection back under 1.6040.
Target: 1.6000 – 1.6020
Stop-loss: Above 1.6100
EUR/CAD Under PressureEUR/CAD is under pressure after failing to close above 1.6220 (50% Fibonacci extension), and lack of momentum to hold above 1.6050 (38.2% Fibonacci extension) may push the exchange rate toward 1.5950 (100% Fibonacci extension).
A move/close below 1.5830 (23.6% Fibonacci extension) brings the monthly low (1.5805) on the radar, with the next area of interest coming in around 1.5590 (78.6% Fibonacci extension).
At the same time, EUR/CAD may defend the advance from the start of August should it struggle to close below 1.6050 (38.2% Fibonacci extension) but need a close above 1.6220 (50% Fibonacci extension) to open up the June 2009 high (1.6326).
--- Written by David Song, Senior Strategist at FOREX.com
Lingrid | EURCAD Bearish Pullback In the Bullish TrendFX:EURCAD is pulling back from the resistance zone after reaching a recent top, with sellers taking control near 1.6225. The structure is still within an upward channel, but the market is correcting lower in an ABC move. Holding above 1.6040 would confirm the bullish bias remains intact. Momentum suggests this is a corrective dip before resuming the broader uptrend.
📉 Key Levels
Buy trigger: Rebound from 1.6040 support
Buy zone: 1.6035–1.6060
Target: 1.6116 and potentially 1.6225
Invalidation: Break below 1.6000
💡 Risks
Failure of support at 1.6040 could extend bearish momentum.
Stronger CAD fundamentals (oil price gains or BoC stance) may pressure EURCAD.
Euro weakness from ECB outlook or macroeconomic data could delay recovery.
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
EURCAD Wave Analysis – 27 August 2025
- EURCAD reversed from resistance zone
- Likely to fall to support level 1.6000
EURCAD currency pair recently reversed down from the resistance zone lying at the intersection of the upper daily Bollinger Band and the two daily up channels from July and May respectively.
The downward reversal from this resistance zone created the daily Bearish Engulfing – which stopped the previous wave 3.
Given the strength of the aforementioned resistance zone, EURCAD currency pair recently can be expected to fall to the next round support level 1.6000.






















