EURCAD, continuous downwards... D1
-->> structure: downtrend
-->> tendency: strong downward momentum
-->> very weak chance to move up
-->> sell to target
Eurcadforecast
Eur/Cad Another Look on the Daily ChartSelf Explanatory... We are still looking for a buy even though we were 13 pips in profit and got thrown into the negative on a hour 1 swing low!
Still Holding a buy!
EURCAD 4h Buy for C wave completion EURCAD completed a B wave of this large corrective structure.
Look for buys near on the trendline for a move up to break the top.
EURCAD LONG Situation 15:15 NYT 15.3.2019Hello to all which follow my charts.
Here The Situation in EUR CAD at the moment.
For an easy look a the big picture i have used my renkocharts
i am favourite from.
So here we go:
EUR CAD had had a sharp downtrend from beginning of 2019
At around 14.1.2019 the pair has build out a short channel
which has lasted till 25.2.2019
From this day on EUR CAD has broke out form that short channel
and since now we are in a LONG setup .
Now we have a pull back which could be a nice chance for a
new long position.
Remember that if you would had beenn the first mover on outbreak the short
channel your buy had been at around
1.5050
which is not so far away from todays trading if you do not daytrading here.
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--This information is not a recommendation to buy or sell. It is to be used for educational purposes only .Alllways do your own research---
EUR/CAD: Bullish Momentum Pick's UpTechnical Analysis
i) The lows at the end of May kissed the .236 fib level producing a substantially large wick, an indication that the bears are losing momentum.
ii) This was followed by a strong Bullish Pin Bar which printed on the .5 fib level suggesting that the May lows (.236 fib level) had a strong potential to be a reversal for the short term.
iii) We have failed to close above the .618 fib level as of yet, as a result I am slightly hesitant to bull the trigger on the long positions as this movement could be part of retracement which is why I have decided to be a bit more patient, and subsequently would be looking to short instead. Remember never get married to a position, be fluid like water!
iv) Assuming that this latest leg was in fact a reversal and not a retracement I would be looking to take the long positions to the 1.60-1.62 region where I would slowly begin to ease into short positions.
Both Moving Averages show a steady upside growth, while the 50 MA gradient has begun to steepen significantly. Furthermore, the divergence between the MACD and signal has begun to narrow implying we could have a cross over which would indicate a 'buy signal' for all the MACD trades, while the Histogram almost turns positive triggering further 'buy signals' for traders.
Fundamental Analysis
As a result of Donald Trumps trade way where tarrifs of 25 percent on steel and 10 percent on aluminium the aftermath of such decisions has hit Canada and the EU and other nations, alienainting companies like Harley-Davidson Inc. forcing them to shift production due to increased manufacturing costs, estimated at up to $100 million yearly. Evidently Trumps Tarrfis are having a knock on effect already in other countries as they are forced to encourage more protectionist policy inhibiting global trade and having a negative impact on markets.
The Canadian goverment is now taking measures to prevent a flood of steel imports from global producers seeking to avoid the U.S. tariffs, including quotas on certain steel imports to prevent dumping, with tariffs applived above that threshold set to be in force from July 1st. Reluctantly, we saw the Canadian dollar weakened while shares in Stelco Holding Inc. one of the few publicly traded steel producers in Canada jumped as much as 2.5% soared.
EURCAD short speculationSelling EURCAD at CMP or after a minor pullback based on price action and indicator signal.
EURCAD Long PosibilityAnother Trend Continuation Trade EURCAD ! Looking For An Uptrend Continuation! However, trade with caution, this pair has been eratic of late.
EURCADCounter Trend Trade. My idea is to trade the pullback at least to the first bear fractal on the 4H chart. Daily chart shows a big bullish candle and the price may still goes up touching the top line of the resistance level. My psychological resistance level is based on the resistance level in 2016 previously. Why I take this trade is because the inverted hammer is a strong indication of reversal especially when it is on the support and resistance level. Be mindful that counter trend trade is a lot more risky than trading with the trend. This may also be a bear trap. Let see how it goes :)
Short for a Correction intraday at 1.4830 for 44 pipsi can see a small bearish divergence in some timeframe.
The wti is strong since 3 day but Cad weakness so ???
anyway a small corection intraday is legit as is aoverbought is lany indicator and time frame too
Also the dxy need to rebound and so is the euro who should down the most
short at 1.4830
Target 1.4786
is a short rade intraday for 44 pips so hurry to enter in if the price not down yet
Short EURCAD Short Term Based On H1 TF Double Top Chart PatternWe can see the EURCAD has now formed a double top. For this chart pattern to be valid, price should break the neckline to validate the double top, pushing price further down.
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.
Crude oil strength means Loonie strengthI've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade.
For the past days, I've been obsessed with Canadian Dollar pairs.
If this Forex pair does break the graphed line, it may possibly dip to the 1.42500 area.
EURCADOur preference: lighten as long as 1.4707 is stopper with 1.4491 as objective.
Alternative scenario: the overflow of 1.4707, will validate an increase over 1.4785 and 1.4832.
Comment: The RSI is below its neutral zone of 50. The MACD is positive and below its signal line. The MACD must press the zero line to confirm a continuation of the drop. In addition, prices are below their moving average (1.4649) but above their moving average 50 (1.4621).
Euro correction or Euro bear, and Loonie bullAfter the huge decline of the Euro and Loonie Forex pair, it has formed a consolidation on lower time frames showing that it may continue its decline later on with the formation of a descending triangle.
Weak oil and weak dollarFrom the recent drop of the oil prices due to the disappointment of the market from the OPEC meeting and the recent bull of the Euro due to several factors (including the drop of the Dollar), the Euro-Canadian Dollar pair has been on a market range even during the bulls of the oil beforehand the OPEC meeting. It has now broken the mother bar and is slightly below of a resistance.
RE-ANALYSIS IN EURCAD - 2H CHARTHi Traders,
I wanted to share this Re-Analysis of a past idea I published. If you want to check it out the past idea is linked to this one.
We are still analyzing the corrective structure. In a first beginning it looked like a converging flag and we expected a move up but it went out of structure and now we can identify perfectly that we are getting a corrective Flat.
Short term is a buy, it could either make a Running Flat or brake the top to become an Expanded Flat. Afterwards we will get a sharp impulse down.
If you want to buy wait for a corrective structure where the arrow and then buy breakout.
I am very interested in the downtrend move since it's the big trade.
Carlos
