EUR/CAD

took a short on EURCAD with sl 1.5112

Closed EURCAD for +40

SELL STOP order on Daily

Attached Image (click to enlarge)

http://www.gripforex.com/topic/weekl...ge/3/#post-844

I would be cautious about buying the CAD. This currency is going down in the medium and long term

EURCAD Forecast and Trade setup for the week 26th Feb, 2014

Daily Chart

http://2.bp.blogspot.com/-gzaN4JxdTj...2-26_11-52.jpg

1. MACD negative divergence is spotted
2. Monthly pivot is holding very well based on daily candles reaction there

Hourly Chart

http://2.bp.blogspot.com/-xUCJCPN-mr...2-26_11-52.jpg

Overall trend is bullish, looking for Scalp trades here,
I have one at the 50% retrace and 78.6% retrace

50% Retrace level -

1. Its a overlapping of a 23.6% from low of Jan and this months high,
2. Its also a 127.20 fib ext of the highs from this last week
3. Look left, its previous s and r

78.6% Retrace level -

1. Cypher Pattern (ugly one though)
2. Overlapping 38.2% from low of Jan and this month's High
3. Look Left, Previous Resis and Support (however you may argue there is a stronger one at the 100% obviously)

Outlook Trade opportunity
See Hourly Chart
Risk Level MEdium

Tips -
Always take note of any economical news event on our provided calender below

I see a really really clear spot to short this pair. Canadian dollar is reverting a bit to the mean pushed by i) double top in this pair & overbought levels and ii) EURUSD may be facing a top, as unable to break 1.38.

Easy play as investors take profits on multiyear highs and reduce exposition on the massive uptrend. Note also huge bearish divergences. First level to take an eye on; demand area & bull trendline.

i think Short time has come..Descending Top,rising bottom..at the end of this situation may be big fall starts..

All the MA seems Bullish but RSI and MACD negative missmatch..short @5430 , if PA is up i will add new short position..

Recommended trade: EURCAD buy @1,5156 order. Very good RR ratio (1:3). SL @1,5106, TP 1,5256; 1,5306; 1,5356 (thirds).

I bought 6 lot @1,5149.

Red trade. SLed @1,5106.

I'm positioning short at 1.5255
SL: 1.5489
TP: 1.4491


It seems that the trand originated in 17/08/2012 has reaches it's maximum for the wave 3. Using Fibonacci expansion we are exactly at 161 %.
Furthermore ADX, Ichi and VRI indicate that the bear trend is strong.

What do you think about ?

What do you think about a possible short pennant ?

With this big bearlish candel that we had yesterday i'm thinking to go long on EUR/CAD.Anyone going long here or i missed something and i'm wrong ?

First doji candle in a few months for this pair, also it's pulling away from top BB band.

eur cad
On the daily chart, we are observing the head & shoulders pattern on top. till May 8th its time will be fulfilled. according to down sloping trend in RSI, we are expecting to see a drop by having the neck line broken around 1.4990
Good luck

http://forex-fa14.blogspot.com/

Stopped out with no loss going to for the next setup.

this is ready to fall with a break of current levels, 1.4990 is support. A break of this level and the H & S pattern comes into play with targets of 1.4650 and then 1.4430.
Will be looking to short next week

EUR/CAD has room also to go down.

http://forex-fa14.blogspot.com/


On the H4 chart, we are observing the Crab pattern and the RSI indicator is moving down trend simultaneously. Based on the positive divergence, we are expecting to see a growth of the price with the pair if the trend line is broken

Pattern well spoted.I dint saw it.I'm still keeping my short from 1,495.