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EURCAD trade ideas

Bullish bounce?EUR/CAD is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance level. Pivot: 1.49267 1st Support: 1.48808 1st Resistance: 1.50093 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
"EURCAD Stalls: A Prime Setup for Short Sellers""EURCAD Approaching Critical Resistance: A Strategic Short Opportunity in a Consolidating Market The EURCAD pair is currently inching toward a pivotal resistance zone, having already tested the psychological key level at 1.5000. The market, on the daily timeframe, appears to be in a clear consolidation phase, with price action confined within a well-defined range. This consolidative behavior often signals indecision among market participants, but for those attuned to the technical nuances, it also presents a potential opportunity for strategic positioning. As the pair approaches the resistance zone once again, my analysis suggests that we may witness a temporary breakout, with price potentially piercing above the 1.5000 level. This move would likely serve as a liquidity grab, a common occurrence in markets where price action flirts with psychological levels. Such "fake outs" are often engineered to trigger stop-losses of early short-sellers and draw in breakout traders, before the market reverses direction. Given the range-bound nature of EURCAD, I am anticipating this potential false breakout to be short-lived. The pair is likely to retreat after testing the resistance zone, reversing course and beginning its descent back toward support. This behavior would align with the broader consolidation pattern and would offer an ideal entry point for short positions. My primary target for this downward movement is the 1.49450 level, a critical area of support within this consolidating market. Should the price action roll over from the resistance zone as expected, the market could begin to test the lower boundaries of its current range. This level at 1.49450 has proven to be a significant floor for EURCAD, and it aligns with historical price behavior within this range-bound structure. In essence, the EURCAD market is offering a textbook example of a consolidating environment, where price oscillates between defined support and resistance levels. For traders willing to wait for the right confirmation, the setup is primed for a potential short trade, particularly if the pair takes liquidity above the psychological 1.5000 level and begins to retreat. With my sights set on 1.49450 as a key target, I am poised to capitalize on what appears to be an ideal range-bound trade opportunity."
Short
by lonelyPlayer0
EURCAD 100 pips movementIf you're anticipating a 100-pip bullish movement in the EUR/CAD currency pair over the next 1-5 days, here's how you might interpret and analyze that scenario: 1. Current Price Movement You expect EUR/CAD to rise by 100 pips, which indicates a potential strengthening of the Euro against the Canadian Dollar. For instance, if the current price is 1.5000, a 100-pip upward movement would bring the price to 1.5100. 2. Timeframe: 1-5 Days A 1-5 day timeframe is relatively short-term, which means you're expecting this movement within a trading week. Here's how to approach this in terms of trading or analysis:
Long
by LORDOFTHETRADERS
Heading into 61.8% Fibonacci resistance?EUR/CAD is rising towards the resistance level which is a pullback resistance that is slightly above the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.50030 Why we like it: There is a pullback resistance that is slightly above the 61.8% Fibonacci retracement. Stop loss: 1.50776 Why we like it: There is a pullback resistance level. Take profit: 1.49549 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
1
Lingrid | EURCAD consolidating MARKET. Short OpportunityFX:EURCAD is approaching a resistance level, having tested the significant level at 1.5000. Overall, the market is consolidating on the daily timeframe. I anticipate that the price to test the resistance zone before rolling back toward support from the resistance zone, as the price action appears to be in a range-bound area. I expect the market to take liquidity above the psychological level at 1.5000 before moving downward. My goal is to support level at 1.49450 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
3
EURCAD: Near the bottom of its Channel Down. Bullish.EURCAD is bearish on its 1D technical outlook (RSI = 42.446, MACD = -0.001, ADX = 21.257) as it is trading on the 3rd straight red 1D candle and is approaching the bottom of the 10 week Channel Down. The are more probabilities now to see a bullish reversal aimed at the top, so we turn bullish (TP = 1.51.300). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EURCADs mating call "In the untamed world of forex, the Euro, once dominant, has overreached, flaunting its strength. But now, the Canadian Dollar lies in wait, sensing the Euro’s exhaustion. Like a predator stalking its prey, the CAD strikes back, triggering the Euro’s retreat. The market, once overheated, begins to cool, as the Euro falters under the pressure. This is the natural rhythm of the trading jungle—where fortunes shift, and power is fleeting. In this moment, the CAD prevails, restoring balance in the ever-changing dance of the market."
Short
by vitowodenik
1
EURCAD SELL TF D1 TP = 1.4616On the D1 chart the trend started on Aug. 22. (linear regression channel). There is a high probability of profit taking. Possible take profit level is 1.4616 This level, which I have outlined above, is certainly not a “finish” level. But it is the level that has the “highest percentage of hits on target.” Using a trailing stop is also a good idea! Please leave your feedback, your opinion. I am very interested in it. Thank you! Good luck! Regards, WeBelievelnTrading
Short
by WeBelieveInTrading
1
Bullish bounce off major pullback support?EUR/CAD is falling towards the support level which is a pullback support that aligns with the 88% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.48952 Why we like it: There is a pullback support level that aligns with the 88% Fibonacci retracement. Stop loss: 1.48500 Why we like it: There is a support level at the 88% Fibonacci retracement. Take profit: 1.49680 Why we like it: There is an overlap resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURCAD 2024.10.16 01:14:07 Trading Signal BUY FrankPro Signal for EURCAD Type: Screen Signal: BUY TP: 1.50465 SL: 1.49925 Entry Price: 1.5006 Flexity Analysis for EURCAD Forecast Overall(Short-Term, Long-Term): ST=Probably Up LT=Probably Down Forecast Methods(Short-Term, Long-Term): ST=Up LT=Down ST=Up LT=Up ST=Down LT=Down FlexityIndicator Analysis Method(0) EUR/CAD Exchange Rate Predictions Short-term (next few days) The price is expected to go up. The forecast suggests a potential rise to $1.520159 in the next 7 days. Technical Indicators Bullish Signals Bearish Signals 26 indicators 26 0 The 14-day RSI reading is also leaning towards a bullish trend. Long-term The price is expected to go down. Despite the short-term bullish outlook, the analysis highlights intense bearish pressure. Market violating a solid rising trend line Wide horizontal zone of demand Price testing a zone of support at 1.4328 Potential re-test of the bottom of this zone at 1.4235 Potential further drop to the 2023 low at 1.4158 The broader economic context also suggests a weaker Euro and a stronger Canadian Dollar, which could contribute to a long-term bearish trend. Result: ST=Up LT=Down FlexityIndicator Analysis Method(1) EUR/CAD Exchange Rate Forecast Short-term (next 7 days) Forecast Technical Analysis Expected Price Movement Bullish sentiment, price expected to rise to around 1.520159 Strong bearish trend, potential bearish movement towards 1.4948 support level Price likely to oscillate, with a slight bias towards a slight increase Long-term (next few weeks/months) Monthly Forecast (October 2024) Average Rate High Low Expected Price Movement Slightly bullish sentiment 1.528 1.553 1.507 Price expected to go up, with a potential target of around 1.530 by the end of the month Important Note: These conclusions are based on the provided data and should not be considered as investment advice. The foreign exchange market is highly volatile, and prices can change rapidly due to various market and economic factors. Result: ST=Up LT=Up FlexityIndicator Analysis Method(2) EUR/CAD Exchange Rate Analysis Short-term Outlook (next few days to a week) Trend Signals Price Movement Bearish 82.14% of moving average signals Expected to go down Key Levels to Watch: Sellers' bearish objective: 1.5020 CAD Potential breaks below support level: 1.4976 CAD and 1.4911 CAD Additional Factors: Recent increase in capital gains inclusion rate in Canada may lead to profit-taking and sale of CAD assets, contributing to a short-term decline in the EUR/CAD exchange rate. Long-term Outlook (weeks to months) Key Factors to Consider: Expected easing cycle by the Bank of Canada may negatively impact the CAD and lead to a long-term decline in the EUR/CAD exchange rate. Contrasting monetary policies between the ECB and the Federal Reserve may lead to a long-term appreciation of the CAD against the EUR. Conclusion: The price is expected to go down in the short term, but the long-term outlook is less clear and may depend on the evolution of market conditions and economic factors. Result: ST=Down LT=Down
Long
by orbborisson
The EUR/CAD 1-hour chart shows a clear bullish trend The EUR/CAD 1-hour chart shows a clear bullish trend within an upward-sloping channel, with prices bouncing off support near the 1.4900 level. The pair recently broke above the channel's midline and is heading towards the upper boundary around 1.5100. This suggests the potential for further upside in the near term, with the current price action maintaining support at higher lows. Key points to watch: - Support: 1.4900 (bottom of the channel). - Resistance: 1.5100 (top of the channel). - A breakout above the upper boundary could signal strong bullish momentum, while a rejection could lead to a retracement back to the midline or lower channel support. This setup offers a potential trading opportunity depending on confirmation of the next move. Monitor price action and volume to confirm the breakout or reversal.
Short
by THE-10
1