Australian (ASX) Stock Market Forum

EUR/CAD

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Seems an interesting market,does anyone on here follow it .? Also looking at the EURNZD has some good volatility with most weeks having a range of 350 pips +
 
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Once again this market turned on the 19.00 19.30 bar this morning .target for this trade was 200 pips from the break out ...
Check it out for your selves dont take my word for it .
Happy Trading
 
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The 10-day simple moving average is bullish and moving up for EUR/CAD. However, it is approaching the resistance level, so watch out.
 
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EURCAD Analysis

EUR/CAD was in a strong and consistent uptrend during the recent months that buyers were successful in achieving the highest price of 1.55813.Price is going toward the support level of 1.52000 (the important psychic level of Sellers) and there is not any clear reason of buy signal in long term time frames such as Weekly and daily.

Right now in Daily and 4H time frames price is under 5-day moving average which shows consistent descending trend. According to the formed movements in the previous week, there is a Spining Top candlestick pattern which shows indecision marker for ascending or descending and there is a warning for stopping of more descending.

RSI indicator in weekly time frame is in saturation Buy area(also divergence mode in Daily time frame) that confirms the current Top price and warns about changing price direction. Generally until the price level of 1.55813 is preserved, price will have the potential for reformation and descending.


 
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Re: EURCAD Analysis

As it was mentioned in the previous analysis of this currency pair dated 27.03.2014, according to the technical formed signs there was the possibility of the price descend which finally happened.Sellers were successful in reaching to the lowest price of 1.48314 and after that the price has started to increase. The price by reaching to the Up Trendline (made of 4 bottom prices) which is drawn in the picture below could not pass the supportive level and by forming the bottom price of 1.48314(Hammer Pattern) provides a field for price reformation. Right now price is over 5-day moving average in daily and 4H time frames and warns about more ascend.

As it is obvious in the picture below, between the Top price of 1.55842 and the bottom price of 1.48314 there is none-ideal AB=CD harmonic pattern with the Fibonacci ratios of 50 and 127.2 (also Butterfly harmonic pattern) that warns about ascending of the price.RSI indicator is in saturation sell area that confirms the current harmonic pattern with the next cycle but because of non-compliance and coordination with larger time frames(such as weekly and monthly), this signal is not much valid. Generally according to the formed signs in daily time frame, until the bottom price of 1.48314 is preserved, the price has the potential for reformation.


Technical Analysis of EUR/CAD dated of 2014.05.21


 
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Re: EURCAD Analysis

EUR/CAD was in a strong and consistent downtrend during the recent weeks that sellers were successful in obtaining the lowest price of 1.40092.According to the formed movements in the previous week, there is a Spinning Top candlestick pattern which shows indecision marker for ascending or descending and there is a warning for stopping of more descending.


As it is obvious in the picture below, between the top price of 1.44540 and bottom price of 1.40461 there is AB=CD harmonic pattern with ratios of 50 and 161.8 that warns the potential of ascending from the D point of this pattern. Indicator RSI is in saturation sell area which confirms the created bottom price and warns about increasing of price. Generally according to the current situation, until the bottom price of 1.40092 is preserved, there is the potential for ascending of price and reformation of descending trend.


 
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Technical analysis of EUR/CAD dated 16.03.2015

EUR/CAD was in a strong and consistent downtrend during the recent days that Sellers were successful in obtaining the lowest price of 1.3388.Price has been stopped from more descending with reaching to the supportive edge of Down channel technical pattern and also the supportive round level of 1.3400 (Sellers use this lever to exit their trades) and starts to ascend.

As it is obvious in the picture below, between the top price of 1.4641 and bottom price of 1.3388 there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 that warns the potential of ascending from the D point of this pattern.RSI indicator in Daily time frame is in saturation sell area and with the next cycle warns about ascending of price during the next candles.Generally according to the current situation, until the bottom price of 1.3388 is preserved, there is the potential for ascending of price and reformation of descending trend.
 

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