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Eurcadlong

EURCAD wait for Flag pattern to complete Hi Traders, EURCAD has a massive rise within the the last few weeks which price is now consolidating within a Bullish Flag pattern/channel. Wait for a proper entry before going long or you'll get trapped in this correction. Personally I need to see a strong Impulse breakout of this structure followed by a LTF correction to validate a buy opportunity. Share a comment below and let me know your view on this pair! Support me by clicking the like button if this has helped you! Trade Safe!
Long
by ktlfx
EURCAD | Perspective for the new week | Follow-up detailsSince my last publication on this pair, the price moved over 350pips in our direction before the retracement began ( see link below for reference purposes). And I expect the retracement to culminate at a level between 50 and 78.6% before the rally continues hence my previous bias still holds (see link below for reference purposes). Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. Following the bearish run that lasted 5 months, the CAD recorded a 6.20% growth against the Euro and it appears the Euro is gaining traction following the strong impulse leg that began on the 27th of January 2022. ii. Double Bottom: The appearance of this reversal pattern at this juncture (C$1.41) in the market revealed a change in trend and a momentum reversal from prior leading price action as selling momentum continued to reduce. iii. So, I am looking forward to the retracement to test the neckline which is also the key level or within C$1.425 & 1.435 to hop into the potential rally in the coming week(s). iv. Please note that the above key level remains a comfortable area to buy the euro with an opportunity to add to the existing position at breakout/retest of C$1.462... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:4 Potential Duration: 5 to 12 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
EURCAD: Is This The Rise Of The Bull Era? I have uploaded the EURUSD Elliott projection on 4th January 2022. The price had started creating the last leg, and I had mentioned two scenarios. Click Here to read the Previous article: Article 1 : EURCAD: Sentiments are short-term bearish, but Result - Price has reached all the bearish targets by creating the low of 1.4100. After creating a new lower low, the price was ready for an upward move. So I had activated the bullish scenario with upside targets. Click Here to read the Previous article: Article 2: EURCAD: Bullish Scenario Is Active! Result - Price has reached all the targets by creating a high of 1.46345. Use Play-button to check the results. What's next? Price has taken support from the lower band of the base channel. According to the wave principle, price movement confirms its trend by breaking the corrective wave four of the lower degree. Price will face some resistance because wave 4 is the wave that holds the power of the current trend, and the breakout of these levels is the result of the trend reversal. If the price breaks the corrective wave four at 1.46393 , the price will start its upward move. Please note that the price can take support on the parallel channel. I will update further information with target and invalidation soon.
by forextidings
1
💡Don't miss the great buy opportunity in EURCADTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (1.4358). . 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 above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 79. Take Profits: TP1= @ 1.4486 TP2= @ 1.4555 TP3= @ 1.4646 TP4= @ 1.4761 TP5= @ 1.4826 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_World
5
💡Don't miss the great buy opportunity in EURCADTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (1.4358). . 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 above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 79. Take Profits: TP1= @ 1.4486 TP2= @ 1.4555 TP3= @ 1.4646 TP4= @ 1.4761 TP5= @ 1.4826 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
2
EURCAD 1H longEURCAD in my opinion is long for a long term but to 15 mins and 30 mins even 5mins timeframes it could drop further down then for a swing trade it could go a lot higher with trading you need a lot of patience its 99.9% patience. It is always better to wait and buy at the lows with smaller stop losses than take a position at the CMP (current market price) with a really big loss there is not point of doing that because it's better to avoid such trades and positions and go look for another opportunity in other pairs.
Long
by immygak
EURCAD | Perspective for the new weekMy perspective on this pair is going to be the opposite of the majority in the market as my research reveals that the big wigs are doubling down their position against the new week. Technically, with the strong support @ C$1.415 area; I foresee a short term gain for the Euro which might be a retracement of the overall bearish momentum or a possible move for an outright north in the coming weeks. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Double Bottom) Observation: i. It has been a Bearish run for the Euro since mid-September 2021 where the CAD recorded a 6.20% growth in the last 4 months. ii. I am of the opinion that prices have found a bottom. Why? Well, since the price touched the C$1.451 area in November 2021, we have witnessed multiple strong rejections depicting buying power from this area. iii. The highest point buyers have moved the price from the demand level is C$1.46 area (over 400pips move); this feat is recorded on the 20th of December 2021. iv. Immediately price touched C$1.46, a downward spiral occurred which evolve into a Double bottom pattern within the same demand zone (during the previous week trading session) which based on past experience I have considered a strong area for the buyers. v. Double Bottom: The appearance of this reversal pattern at this juncture in the market describes a possible change in trend and a momentum reversal from prior leading price action. vi. In this regard, a breakout/retest of key level @ C$1.43 (neckline) will be a comfortable area for us to open a long position on this trade in the coming week(s). NB: It is appropriate to state here that this is a counter-trend trade hence the need to be highly alert during the course of the trade as any bearish momentum could send the price crashing. .. Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:4 Potential Duration: 10 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
1