EUR/CAD Trade Ideas

After opening the week with a gap up, EUR/CAD formed two inside bars on the D1. This is the sign that the advance has run out of steam. The pair is awaiting the actions and comments of the European Central Bank. The ECB will announce its policy changes at 14:45 MT time and hold a press conference at...

The Bank of Canada will announce its interest rate decision at 17:00 MT time. According to the forecast, the regulator will lower the key interest rate from 1.75% to 1.25%. On Tuesday, the Reserve Bank of Australia cut its key rate from 0.75% to 0.5%. The AUD, however, strengthened versus the EUR. I...

Trade ideas BUY 1.4730; TP 1.4830; SL 1.4710 SELL 1.4690; TP 1.4650; SL 1.4705 EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively. It approached the highs of September and October in the 1.4720 area...

Trade idea SELL 1.4640; TP 1.4590; SL 1.4655 EUR/CAD strengthened last week but ran into the resistance of the 100-day MA around 1.4675. It’s where the upper part of the range, within which it has been trading since the start of September, is. On the D1, the pair touched the upper Bollinger Band. Wi...

Trade ideas SELL 1.4525; TP1 1.4505; TP2 1.4460; SL 1.4540 SELL 1.46; TP 1.4530; SL 1.4620 During the summer months, EUR/CAD broke an important support line and has traded with a bearish bias ever since. Last week, the pair was rejected down from the resistance at 1.4660 and fell to 1.4460. This wee...

Trade idea SELL 1.4715; TP 1.4600; SL 1.4745 EUR/CAD has tried to return above the previous support and now resistance line connecting the lows of 2015 and 2017. However, last week the euro failed to close above this area and the 200-week MA (1.4868). This week, another attempt of bulls to test this...

Trade idea SELL 1.4700; TP 1.4600; SL 1.4730 EUR/CAD made a big breakout to the downside. On W1, you will see that it broke the support line from 2015. This line has become resistance around 1.4750. On D1, you may see that the attempt to return above this area failed. The pair continued to fall on F...

EUR/USD met resistance at 1.1450 and turned lower. The euro was weakened on Friday by the weaker-than-expected PMI data for the key economies of the euro area. The pair broke below yesterday’s low at 1.1340, went under the 100- and 50-day MAs and may now head to the lower levels at 1.1270 and 1.1235...

Trade idea SELL 1.4960; TP1 1.4930; TP2 1.4915; SL 1.4975 EUR/CAD tested 1.5040 yesterday but then closed below 1.50. As a result, a candlestick with a long upper wick was formed on D1. This will make the near-term movement to the upside more difficult. In addition, the pair remains within the desce...

Trade ideas SELL 1.5045; TP 1.4945; SL 1.5060 BUY 1.5115; TP 1.5175; SL 1.5100 EUR/CAD formed a gravestone doji on W1. At the same time, it still managed to close above 100-week MA (1.5055) and the support line from October lows. The pair’s clearly at an edge. This week we can await a big move: eith...

Trade ideas BUY 1.5140; TP1 1.5180; SL 1.5115 SELL 1.5085; TP 1.5045: SL 1.5095 EUR/CAD has approached the support line from the end of October. The pair formed a pinbar yesterday as it failed to close near the day’s high. However, the daily close was still above the 100-day MA at 1.5111, so bulls m...

Trading opportunities on the currency pair: In the period from the 12th of July to the 11th of September, the Bank of Canada twice raised interest rates, with the key rate now at 1%. With this in mind, interest in the Canadian dollar is set to rise significantly. In my forecast, I’m predicting a con...