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EurCad Analysis and Trading Ideas

  • #581
  • May 30, 2012 4:03am May 30, 2012 4:03am
Quoting KillerWhale
Currently trading @ 1.2786
Don't know what just happened but I took profit @ 1.28
New voice message: Why are you calling me? If I need you, I'll call you!
  • #582
  • Edited 4:50am Jun 3, 2012 3:20am | Edited 4:50am
Quoting diavolul
Pivots analysis (support and resistance)

As the gnomoneey said that there is a good chance for this pair to go to 1.294 level, I agree with that. But that is not all. 1.2926 level it's not such a big support, maybe it is only on an intra-day base analysis.
I think the big resistances are only on the upside area. I mean, the pair shifted its bias once again, as you can see in the image bellow. The price turned back from gray area where was located the neutral bias. Decreased amount of lot sizes should have been traded on that area. No doubt...
As we expected, the pair has continued its down march to as low as 1.27271. The bias it remains bearish with 1.2932 pivot level still intact and further downside movements are expected. Nevertheless, any break of the 1.2932 pivot could send the price to go sideways or deeper correction towards 38.2 Fibonacci level (of the downward movement 1.34787-1.27271), like in the image bellow.

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.13.18(gmt+2)03.06.12.PNG Size: 36 KB


Enjoy!
  • #583
  • Jun 3, 2012 3:53am Jun 3, 2012 3:53am
Trend up .
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #584
  • Jun 3, 2012 4:17am Jun 3, 2012 4:17am
Afternoon guys

So friday session gave us a nice bounce from 2757 area and we managed to gain 50 pipers on US Jobs report - a move purely driven by QE expectations imo.
I am standing aside, waiting for short sell oportunity as this train left without me.
There are levels ahead where I'll be looking for any reversal candles to jump on a trade
1. 1,2920/35/50 area held by 200SMA and 68 Fibo
2. 1,2968/70
3. 1,3000/09
4. 1,3060 as my main resistance and best place to sell

Daily and weekly chart showing steady decline in channel suggesting further
pressure from bears.

http://s14.postimage.org/7byvo4b9t/eurocad_d1.gif

http://s14.postimage.org/hajualkpd/eurocad.gif


image hosting
swing it!
  • #585
  • Jun 3, 2012 5:11am Jun 3, 2012 5:11am
@tomspin

Like I've said to another forum user, the levels watched by you, excepting the one from the 1.3060 (red moving average), are unimportant from a daily perspective (only if you go under daily chart). I am not saying that you shouldn't trade them but the reaction in that zones could be minimum. Try to zoom out a little bit to see the perspective of the whole chart. So, I've posted an analysis as a response to your analysis, down bellow.

Medium term

The price continued it's wedge shape down movement, after decisive breaking the 1.3380 pivot (as you can see in the image in the purple arrow area). The pair is still trading under the pivot of the 1.3380 so the bias is still down and further down movements are expected. The break of the 1.3380 level will change the bias in neutral and that could send price sideways or broader correction can be seen towards 1.3552 (50.0 Fibonacci level of the downward movement 1.43768-1.27271).

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.15.09(gmt+2)03.06.12.PNG Size: 32 KB


Enjoy!
  • #586
  • Jun 3, 2012 5:26am Jun 3, 2012 5:26am
Quoting diavolul
@tomspin

Like I've said to another forum user, the levels watched by you, excepting the one from the 1.3060 (red moving average), are unimportant from a daily perspective (only if you go under daily chart). I am not saying that you shouldn't trade them but the reaction in that zones could be minimum. Try to zoom out a little bit to see the perspective of the whole chart. So, I've posted an analysis as a response to your analysis, down bellow.

Medium term

The price continued it's wedge shape down movement, after decisive breaking the 1.3380...
Reason why I pointed out 3060 as my resistance level is I think that a upmove in EUR/USD will be short lived and possibility of QE from Fed will be faded away at least for now and eyes of investors will be focused more on EU situation. I could be wrong of course. 2500 6020 max in E/D for me which will drag E/C down.
Any move from 3060 upward would mean change of the sentiment and will to change current downward movement imo.
3060 is a nice level for end of corrective move.
E/G is just few pippers away from 0,81000 resistance and will be watching that level as well. Could be a really slow as Londoners having a bank holiday atm
http://s15.postimage.org/cc6fq4ti3/eurogbp.gif
hosting images
swing it!
  • #587
  • Jun 3, 2012 5:34am Jun 3, 2012 5:34am
Quoting tomspin
Reason why I pointed out 3060 as my resistance level is I think that a upmove in EUR/USD will be short lived and possibility of QE from Fed will be faded away at least for now and eyes of investors will be focused more on EU situation. I could be wrong of course. 2500 6020 max in E/D for me which will drag E/C down.
Any move from 3060 upward would mean change of the sentiment and will to change current downward movement imo.
3060 is a nice level for end of corrective move.
E/G is just few pippers away from 0,81000 resistance and will be watching...
What is E/D, man? I admit your last post it's a little confusing. Try to focus, not become impetuous.

Cheers!
  • #588
  • Jun 3, 2012 5:44am Jun 3, 2012 5:44am
Quoting diavolul
What is E/D, man? I admit your last post it's a little confusing. Try to focus, not become impetuous.

Cheers!
Euro/Dollar(E/D) - stick to your charts and don't follow anybody - I just posted my view of the market - this is public forum after all.

Everybody talking about correlation of Oil and EUR/CAD but keep forgeting EUR/USD is far more important in this case - in my opinion.
I posted like a week ago that for this year I closed the door behind me at 1.2620 and lock them out at 1.2500 now if correction end up at those levels I will throw that key away.
Your levels at EUR/CAD would required a rally in EUR/USD which will not happen at least for now.
Green pips to you mate
swing it!
  • #589
  • Jun 3, 2012 11:57pm Jun 3, 2012 11:57pm
shorted at 1.2940 sl 50pips tp 160pips

no close beyond fib 62 shows a high probability of retrace completion

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad_june4.JPG Size: 161 KB
  • #590
  • Jun 4, 2012 3:16am Jun 4, 2012 3:16am
Right
Short sell, a very slow day, maybe I should wait for NY boys but candles said "go for it Tom"
Price fail to breach 200SMA I have a tight stop in place and have bottom of the range in my mind
http://s14.postimage.org/w74vviaxt/eurcad.gif
gif hosting
swing it!
  • #591
  • Jun 4, 2012 11:45am Jun 4, 2012 11:45am
Killer, are U trading the Aussie now?
Defending Truth, Capitalism and the US Constitution
  • #592
  • Jun 7, 2012 11:29am Jun 7, 2012 11:29am
Hmmm interesting moves...depending on how the daily close, i may go long for 1,323x target.
Daily is reversing, so does eurusd.
COT: The precious data ignored
  • #593
  • Jun 12, 2012 2:31am Jun 12, 2012 2:31am
it doesnt seem to break 1.2844....for 10 or so days...
looks like going up ...i will wait for it to break 1.2960.
  • #594
  • Jun 13, 2012 7:57pm Jun 13, 2012 7:57pm
In this sell transaction case, closed on profit on 17.7 pips, I used Elliot wave theory. As you can see in the image bellow, we were situated in the wave 3 (navy), of wave 3 (black), of wave a (dark turquoise) of corrective wave C (medium spring). However, the pair needs to construct another 5 wave (black) and only then to correct deeper this up movement, in a three wave structure (dark turquoise zig zag).

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad05.40(gmt+2)14.06.2012.PNG Size: 34 KB


Good luck!


  • #595
  • Last Post: Aug 29, 2018 10:38am Aug 29, 2018 10:38am
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.png Size: 87 KB
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