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EUR/CAD Potential Downward Movement

EUR/CAD Long-Term Trend: Bearish

Key Resistance Levels: 1.3619, 1.3655, 1.3750

Key Support Levels: 1.3544, 1.3495, 1.3442

Daily Chart:

The price on the higher time frame has been in a downtrend for the last few months with occasional pullbacks. The price has formed a lower high formation and there are a few rejection wicks from the upside that indicates further continuation in the trend. 

EUR/CAD Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has shown rejection from the upside and broke minor support of 1.3619. We see the price did a retest to that level and now continuing the momentum.

Signal Idea:

Sell Stop Order @ 1.3594

TP 1 @ 1.3550

TP 2 @ 1.3506

Stop Loss @ 1.3638

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

13 comments

  1. This Trade Hit My Stoploss Because Of Spread And After Some Time This Trade Hit 1TP 🙂

    • Hi,
      Sorry to hear that. The trade was executed at 07:53 AM NYC time as it was notified in the group and the pair didn’t have any big pullback after that. Kindly follow the order type and also place orders at the exact same price mentioned in the post.
      Thanks

  2. Great man, first I doubt open sell stop and buy but both hit TP1, keep up the good work, you are the best signal I hv followed so far

  3. Are we in two trades , one long and one short in EURCAD? Thx

    • Hello!
      The trades with link and analysis are swing trades and the ones that are directly posted in the group are day trades. We have both swing and day trades in EUR/CAD today and it is up to you whether you want to execute both the trades or one.
      Have a good day.

  4. Not profiting in your group as TP1 is 0.5%? I thought it was a 1:2 trade but it’s not, when you risk 1% do you risk 1% per position? If I get stopped out I lose 1%, if it hits first TP I get 0.5% but you put in the group +1%? I’m confused how

    • Hi Jamie,
      Our TP1 is never lower than 1 and TP2 is always 2 or higher. For this trade both SL and TP1 are 44 pips which makes it 1R and TP2 is 88 Pips so 2R.
      Hope this clears it.
      Have a good day.

    • Jamie, see it as a one trade, where you decide to let it go to 1% profit or to 2% profit, if you exit 50% at tp1, and let got the rest it will be a 1.5% profit

  5. Did price hit because I can’t get it

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