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Eurcadidea

EURCAD: Diagonal pattern in the weekly chartEURCAD: Diagonal pattern in the weekly chart, Triangle pattern in the daily chart ( Weekly Chart ) In the weekly chart, the largest waves have a triple structure, so monitoring the charts shows the end of the chart is in a form of 3-wave pattern that starts from the range of 1.2129. According to these explanations, the price is forming an Ending Diagonal pattern in this time frame. In continuation, we will study the daily chart and the details of the movement. ( Daily Chart ) In the daily chart, the price is in the final wave of the Diagonal pattern, of which the B wave is forming the triangle pattern, and the movement is terminating. The uptrend formation and the end of the Triangle pattern can be confirmed by crossing the price from the range of 1.5785. But the main point can be seen in the 240-minute chart, in this chart at the end of the E wave the Diagonal pattern is being formed. By crossing the price from the range of 1.5600 we can get the early confirmation to enter the completion of the Triangle pattern with targets of 1.6250 to 1.6300.
by NirmataFX
EURCAD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
EURCAD Technical Analysis - Currently we can see a downward channel formation on EURCAD - 1.5450-1.5400 is a support area and 1.5700 is a resistance also the upper edge of the channel. - The price is above 200 EMA on Daily TF. - A sustained move over 1.5400 will indicate the presence of buyers. If this move creates enough upside momentum then i'll look for the rally which can possibly extend to 1.5700 - Meanwhile, A daily close below 1.5400 can take the price to 1.5050
Long
by UnknownUnicorn3749633
2
EURCAD short trade ideaPlan: support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
1
EURCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of EURCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 43 - 19 Oct M > Price faced rejection at monthly resistance level, creating double top and started moving downwards. Price also completed W pattern. W > Price dropped to test previous resistance now turned support and started a pullback to the upside. Price is also finding support of upward trendline. D > Price moved up to test daily resistance, faced rejection and dropped back quickly. Price dropped till 0.618 Fib level on weekly bullish impulse. We can see an M formation and expect price to move upward for a pull back and test the neck to complete the formation before continuing with bearish move. Neck also coincides with 0.5 Fib level on last bearish move. As per COT EUR saw closure of Long and addition of Short for the 2nd time in a row, reducing net positions. EXY however improved its position for the said week because we saw reduction in overall open interest, it did not allow its position to slip. EXY was weak last week. CAD saw addition of major Long and closure of Short positions with Short positions further reducing to least for current year, improving net positions (still in -ve). CXY further gained strength during the said week but weakened a bit last week. We are aware that EXY is very strong with its open Long positions but CXY is also expected to gain strength because it has stayed with -ve net positions most of this year and its time for it to reverse that. For Long term we expect EXY to weaken and CXY to gain strength but for short term EXY will dominate CXY. 4H > Price has started moving upwards creating HH and HL, we expect price to move up and test our target before reversing to continue with bearish trend. Pair Correlation > EURCAD has positive correlation with EURGBP and negative correlation with CADCHF, GBPCHF and USDCHF. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
EURCAD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
2
ECAD buy analysis 01/10/2020This morning we are taking a look at a different pair. We have huge upside potential, providing we can respect support down at 1.55950, and break resistance at 1.56150 and then form a support around that area, we have good confirmations to execute longs with two big ranges to attack. Our first target would be resistance at 1.56750 before targeting 1.57350. As usual I would look to secure 10-20 pips and let the rest run. If support is broken there is no trade.
Long
by rhf_fx
EURCAD H4, Analysis Based On Price Action TheoryWe Have an Analysis Of EURCAD H4. This Analysis Based On Price Action Theory. According to The Analysis, We Can See That the Market has a Buy trend on monthly Time Frame But H4 Time Frame We can see the symmetrical triangle 🔼 pattern. Behalf On That We have some key 🔑 points for Buyers & Sellers, If the Market Break triangle 🔼 Up then Target (resistance) @1.58269 & @1.59630 But Market Break Triangle 🔼 Down Trend Then the Target (support) @1.54276 & @1.52032 I Request to All Before The Trade You Also Match You're Analysis With As If You're Set up Match Then You Can Trade. Thanks Regard Enclavefx technical group
by Enclave_fx
Potential Long on the EURCADWaiting for a clear break of structure on the EURCAD before I can actually enter the trade. I would say it is still in a valid bear structure, but there is bull momentum to it too. Buyers are trying to drive the price up on the 4hour timeframe. If they are successful in breaking the bear structure, I will wait for sellers to bring price down and test the region again. Then see if buyer can hold the level by overpowering the sellers. Only then will I enter the potential buy. The alert is turned on at a region to notify me of when the breakout occurs. Since I do not stay in front of the charts, I prefer to be notifed of a breakout. Then I will issue another alert for when price comes back to retest region.
Long
by FaithEmmanuel
EUR/CAD Forming Cup and Handle Pattern.Currently, EUR/CAD is trading at 1.5586. The pair is trading above the channel resistance level, It can move below resistance level to start a new down trend in the channel. So, accordingly plotted entry levels and target price. If the price breaks resistance level at 1.5531 inside the channel, then the price will enter into the downward channel and start a new down trend. Then its target price will be the support level of channel at 1.5350. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Short
by rishililawat5
1