so my analysis is based on trend in trend as you can see the pair seems to be in a very interesting place to take shorts or if the price brakes that support i'll enter for a buy
Price has formed a Monthly Source Supply and a Quarterly Destination Demand and now we have a downward confirmation in Weekly with a Supply fomed which also has a Deviation from the EMA which indicates a very strong imbalance in the Price Action.
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This is my perspective on EURCAD ANALYSIS
Based on Simple Technical Analysis (Trendline + Support & Resistance)
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The EURCAD breakout in the hourly chart presents an excellent educational opportunity to understand technical analysis and trading strategies. This scenario provides a practical example of how to identify support levels, interpret market movements, and utilize Fibonacci targets for potential trade opportunities. By following this breakout and observing its...
EURCAD is in buy level at 5 mins Good Buy Setup ready
EURCAD is in buy level at 5 mins Good Buy Setup ready
EURCAD is in buy level at 5 mins Good Buy Setup ready
EURCAD is in buy level at 5 mins Good Buy Setup ready
The Relative Strength Index edged higher to 50 on the 4-hour chart, reflecting a loss of bearish momentum. On the upside, the pair faces stiff resistance at 1.0820 (200-day Simple Moving Average (SMA), Fibonacci 38.2% retracement of the latest uptrend). A daily close above this level could open the door for additional gains toward 1.0870 (100-period SMA on the...
According to my technical and fundamental analysis, the EURCAD pair is currently trending towards the sell side, making it a prime opportunity for traders to short the pair.
From a technical standpoint, the pair has broken below a key support level at 1.49200, indicating a bearish trend. In addition, the recent price action suggests that the pair may continue to...
