Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.3090).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a...
The price perfectly fulfills my last idea and falls to support. Since the price is at main support level 1.3000, I expect a pullback to the nearest resistance level. My target is 1.3165 price.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
#EURCAD for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
1st support:
1.29587
Next Zone...
Traders often lose motivation to trade. Clearly this is beginner issue as the can have wild emotions at times and can become quickly disillusioned about their competency.
The prices are in the rising wedge. We expect the prices will proceed in the rising wedge . RSI is overbought, and Aroon shows us that the value of the CAD is still increasing against the EUR.
We expect the price to retest the downward trendline as a support therefore it´s recommended to take a short position at the current levels as we got a bearish candle close...
This rectangle pattern on the daily chart of EUR/CAD offers two breakout trading opportunities. The borders of the rectangle are marked with the yellow lines. My potential entry levels are where the cyan lines are. My potential take-profit levels are at the green lines. The stop-loss can be set to the low/high of the breakout candle (not shown on the chart).
Overall trend has been bearish from the daily time frame
However on the 240 TF we have a Double bottom pattern with Rsi oversold on 1st leg - signal for a bullish reversal
On the 60TF we have a structure support that has been tested multiple times - buyers holding this zone - we even have a bullish candle push - also an entry signal
Trade taken on the 15TF on...
EURCAD on the 4h chart is testing the support area at the 1.34 level.
The price has tested the level a few times and a break below can be expected.
How can i approach this scenario?
I will wait for a potential break of the level and in that case i will set a nice short order according to the Plancton's academy rules.
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Follow the Shrimp 🦐
Keep in mind.
🟣...
Triple bottom with RSI divergence.
Nice RR for a swing trade with a TP around the 1.38 level.
Note 50 cross on the RSI at time of publish.
An overdue pullback on spot oil prices will strengthen this idea, so worth keeping an eye on that market too.
Cheers !
