EUXCAD trade ideas
EURCAD 4 Hour Analysis (11 August 2023)EURCAD 4 Hour Analysis (11 August 2023)
1. Price is in a channel
2. We can see bearish divergence with RSI
3. If the price breaks from the channel high, we
can expect long
4. If the price breaks from channel low,
5. So, we will wait for proper confirmation
then we can enter
Possible long in EUR/CADThe pair is bouncing from the support. This is a key pivot level which has been tested several times in the past. The momentum oscillators are also showing a slight positive divergence. Longs have a clear risk management below the support level and we can see a substantial rally from this level.
EURCAD 4 Hour Analysis (20 July 2023)EURCAD 4 Hour Analysis (20 July 2023)
1. Price is in divergence with Stochastic
2. also, we can see the price with important
fib levels
3. If the price breaks 0.382 we can expect a
bullish move
4. If the price breaks 0.5 fib level we can expect
a bearish move
5. For a trend confirmation we can also
check the values from ADX or DMI
6. Though the price can have a bullish move,
we will wait for a proper entry.
EURCADFX:EURCAD
As you can see that (For MONDAY 17-07-2023), EURCAD has created Double top pattern in 15Min Time frame at the important resistance level. If it breaks the drawn neckline, we can go for sell side and capture some pips. Always go for retest entry to avoid fake Breakouts. Plan your trade accordingly....
Long EUR/CADAfter the breakout from the rectangle on the hourly charts the pair is now testing the support. Stops will be below the range or in this case in the middle of the range. Instead of using the target here we can just use the moving average to ride the trend for as long as possible on the hourly time frame. One can also use the ichimoku for the same
EURCAD 4 Hour Analysis (28 June 2023)EURCAD 4 Hour Analysis (28 June 2023)
1. Price is in strong supply area
2. We can see the price forming inside candle
3. Also, we can observe bearish stoch divergence
So, based on inside candle breakout we can
enter short trade, also if the inside canle is
breaking from upside, then we need to focus on
the supply area and to check if price crosses the
supply area also.
EURCAD 4 Hour Analysis (20 June 2023)EURCAD 4 Hour Analysis (20 June 2023)
1. Price is in ascending channel
2. also, the current price is in consolidation
or range
3. we can see the Stochastic is in oversold
region and we can observe the divergence also
4. Possible scenario: if the channel and
consolidation breaks from downside,
we can enter short
or, with divergence and consolidation box
breaks from upside, we can go for long