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Eurcadforcast

EURCAD More Drama On The WayThings dont look over yet for the bearish trend on EURCAD at the weekly time frame. Expect more bearish downwards movements the next weeks. And lower range has been broken and it has opened the way for at least a 400 pip fall. This ofcourse, is on the weekly time frame. so on the daily, 4h and 1h time frames there will be plenty of retracements up that you can buy for a few pip. But with this strong sell set up the best advice that I can give is to enter a decent sell position and add more a long the way down.
Short
by JoshFX1
EURCAD Buy SetupEURCAD on the daily time frame has broken through the upper range and Stoch has just made the bullish crossover. When looking at the 4 hour time frame you see that on that time frame the Stoch is already showing a lot of buying pressure. ADX is still to make this crossover, but that one is always a bit slow, need about 3-4 green candles to make the green line go up. When using the Elliot Wave Patterns there are 2 scenarios right now: Scenario 1: Currently we are at the start of the 5th wave Scenario 2: Currently we are at the start of an A B C corrective wave Still both support a buy, the question is how far it will go. Either use the 1st support as a take profit 1.4869. or use this price to move up your stop loss up to 1.4820 and try to enjoy the possible 5th wave all the way to 1.50+ Stop loss 1.4720
Long
by JoshFX1
Long EURCAD Longterm Based on 1D ChartSince gapping up, price has tested and respected a major support/resistance area bounced up from it. Today we've seen price has touched this major support level and price did pierce through but quickly pulled backed and has respected this level. Zooming in on the 4H time frame, candlestick pattern confirms a reversal in the downtrend to an uptrend is probable and momentum is changing with stochs touching 10% oversold. Check lower TF's for best entry. I've placed Stop loss very tight on the chart but do your own analysis, I may make mine wider. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Long
by AEFX786
2
EURCAD: Future Direction Hinges on 1.4095Exactly one week ago we discussed how the EURCAD bulls were tiring following a 430 pip bearish engulfing week. When I released that commentary on April 6th, the pair had already broken channel support on an intraday basis. While writing that post, I took a short position at 1.4321, which I shared with members at the time of the entry. I also added to that position on the April 11th retest of 1.4170, a level I mentioned in last week’s post. For a more detailed write up of the EURCAD including the March retest of a 2,000 pip head and shoulders neckline, see this post. Another level I was keeping a close eye on is 1.4095. The area served as key resistance in late January and early February as well as a brief period on March 1st and 2nd. It was also the technical catalyst for yesterday’s rebound. A quick Fibonacci study shows that 1.4095 is the 61.8% retracement when measuring from the current 2017 low at 1.3783 to the high at 1.4598. While sellers have already managed a 4-hour close below the area, I’d like to see a daily close (5 pm EST) to confirm the break. If that happens, a retest of 1.4095 as new resistance is likely given that the pair is currently 150 pips below the mean as measured by the 10 and 20 EMAs. On the other hand, should buyers close the pair above 1.4095 before today’s close, traders can watch for selling opportunities from the 1.4170/90 area. A close above that would expose the next resistance level at 1.4260. I’m standing aside, for now, to find out which side will be victorious at the end of today’s session. I’d like to add to my current short position, but a confirmed break of support is needed first.
by Daily-Price-Action
2