EURCAD Monetary Policy meetingAs I published early this week, tomorrow will be the Bank of Canada's meeting, the market doesn't wait a particular change, so the reaction of the pair EURCAD, will be affect by the stimulus and economy outlook.
Eurcadlong
EURCAD LONG PRICE ACTION FORECAST -UPDATE-The price could not reach the forecasted TP from the previous short position, unable to break the demand zone, the price has gained some force from buyers changing the previous downward bias.
Long entry was filled after the EMA's golden cross and heading towards the TP level around the descending trendline.
The order:
Type: buy-stop
S/L: 21 pips - R:R | 1:3 -
T/P: confluence zone
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A small trade on EURCAD The 1,545 level had became in a support, so we should wait to retest that zone again to enter into the trade in the renounce to 1,555.
EurCad- towards 1.57?Yesterday, EurCad respected 1.5430-15450 support zone and turned violently from this point.
A small correction could follow from this point and this can give buyers the opportunity to open a long trade at a better price.
That being said, buy dips is my preferred scenario for this pair with a target at 1.57 resistance
EURCAD Long Trade Idea.Hello Guys! So this is my EURCAD entry for today with 1:3 RRR.
Its totally up to you to take the trade or not its just for education purpose, I am already in the trade and running profit with zero draw down.
The Bearish lose its momentum so i locked in a long position for a quick profit.
Thank You
EUR/CAD: LONG trade setupall in the picture
I advise to check the trade 6hrs from now and book some gains, at least to move the stop into the money.
good luck !
EURCAD looks all set to resume the uptrendOver the last few weeks, EURCAD has pulled back from the double top. Looking at the chart it looks like, EURCAD is all set to resume the uptrend once again. Initial target should be at 1.5580.
If price breaks 1.56 level, then 1.58 can also be a possible target.
EurCad- Entering strong support zoneFrom 1.6 top eurcad dropped almost 600 pips but the drop is not impulsive and has a very clear corrective move format. Also if we draw a Fibonacci from 1.51 support we can clearly see that this old resistance zone, now support, is confluent with 61% retracement and we can very well be in a "measured move" pattern.
That being said I will look for buy opportunities for at least 1.57 target for a swing trade.
EURCAD SWING OPPORTUNITYThis is a opportunity at catching the pips early as we are nearing the ending of a leading diagonal of wave 1, we would be seeing a retracement along the way to give us mini pips gain, but the ultmate is the swing view in mind.
Stay tuned and follow me for updates on mini timeframes. Happy Trading
EURCAD LONG PRICE ACTION FORECAST Tre price action has been trading within a channel. Without breaking through the demand area, we could expect a temporary upward movement towards the channel's resistance level.
Long entry buy-limit type, getting filled after confirmation of a retest of the confluence zone.
The order:
Type: buy-limit
S/L: 34 pips - R:R | 1:2 -
T/P: Fib exte level
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EURCAD analyse in DAILY in daily CHART we can see 2 thingS!
The CUP and the FLAG! its eaSY to trade when the chart breakout the HANDLE
Long EURCAD
Took a long on EUR/CAD, the market seems to have broken the down trendline, I do have 1 area of concern for a possible resistance (1.56345)
Entry 1.55958
Stop LOSS 1.55545 (41 PIPS)
Take Profit 1.57601 (164 Pips)
EURCAD long confirmationEURCAD long position confirmed with a head and shoulder formation and a RR 1:2
waiting for a breakout to enter long cup and handle formation pattern concluded, waiting for a breakout to enter long in EURCAD 4H
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.
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Thank you for your support ;)
GWBFX
