EURCAD - banking on the upside
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EURCAD - banking on the upside
EURCAD Hey everyone, Erik here.EURCAD has been in a strong downtrend, though that bearish momentum is starting to lose its intensity. The market is now shaping what appears to be an inverse head and shoulders pattern, a classic sign that sellers may be running out of strength while buyers are beginning to show interest.
After the right shoulder formed, buyers made a confident move above the neckline, signaling a possible shift in market structure from bearish to bullish. At the moment, I’m watching for a short-term pullback toward the neckline area, a healthy retest that could confirm the strength of this move before any continuation higher.
As long as price holds above that level, the bullish scenario remains valid. The next upside target is around 1.63185, which aligns with the next resistance zone and the projected move derived from the pattern.
This setup is clean, logical, and full of potential. It illustrates how market momentum can shift naturally from exhaustion to recovery, hinting at the early stages of a possible trend reversal.
EURCAD 🧭 Market OutlookEUR/CAD showing early signs of bullish momentum!
After the latest ATR (Average True Range) pullback retest, buyers are gearing up for another leg higher.
The price is respecting its structure, and momentum indicators suggest a continuation to the upside if support zones hold strong.
🎯 Thief Trader’s Game Plan (Layering Strategy Style)
My approach uses multiple buy limit layers to manage risk and scale into strength:
💰 Buy Limit Layers:
1️⃣ 1.61400
2️⃣ 1.61600
3️⃣ 1.61800
4️⃣ 1.62000
(You can adjust or add more layers depending on your strategy)
🛑 Stop Loss (Thief’s Safety Net): 1.61000
⚠️ Note to all my fellow traders (Thief OG’s): I’m not recommending you use my exact SL.
Trade smart, manage your own risk, and take profits wisely — it’s your money, your decision!
🎯 Profit Targets
🏁 Target 1: 1.63200 — where the Hull MA signals potential overbought conditions.
🚧 Target 2: 1.64500 — a “police barricade” zone with heavy resistance and likely profit-taking pressure.
🔔 Take profit zones are flexible! Always adapt to live momentum and volatility.
📊 Technical Summary
✅ ATR confirms strength on pullback retest.
✅ Bullish structure maintained above 1.61400.
✅ Hull MA acts as overbought indicator — use it for dynamic exit guidance.
✅ Layering method smooths entries and reduces emotional decisions.
🌍 Correlated Pairs to Watch
Keep an eye on these related instruments for confirmation signals & momentum clues:
💱 EUR/USD – Often moves in sync when Euro strength is broad-based.
💱 USD/CAD – Inverse correlation; if CAD weakens, EUR/CAD may rise.
💱 EUR/AUD – Can reflect broader EUR sentiment against commodity-linked currencies.
Cross-check these pairs for momentum divergence or correlated movement before pulling the trigger!
EURCAD selling here
EURCAD Start of bullish reversalPrice bounced back from major Support Level at (1.61819 - 1.61692) and later entered into consolidation phase.
Bearish trendline with 2 touches that price is currently trying to break.
Price is in Consolidation phase and is attempting breakout at the top of the range at (1.62179 - 1.62099).
50 EMA, Bearish trendline and Intraday Resistance level
EURCAD buy for 1.6320
EURCAD EURCADYou already know what we’re doing on the LTF — just waiting on that mean confirmation so we can run them highs. The structure’s clean, momentum’s building, and all we need now is that precise breach and pullback to confirm intent.
Patience before precision — that’s how we move. Let’s go. ⚙️🔥
EURCAD system beeping...EC 🔥
shorted 💶...SEC @ 1.6185
EURCAD go short in this pair,
EURCAD Any advice here. Looking at this key area to go long. Equal lows taken out. Filled the imbalance BUT we will have broken structure. Thoughts anyone.?