Forex Signals » EUR/CAD http://www.forexsignals.info Forex Trading Signals, Index Trading Signals, Forex News, Currency Trading News & Analysis Tue, 07 Feb 2012 16:42:49 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 EURCAD Ascending Triangle – Short Term Trade http://www.forexsignals.info/eurcad-ascending-triangle-%e2%80%93-short-term-trade.html http://www.forexsignals.info/eurcad-ascending-triangle-%e2%80%93-short-term-trade.html#comments Mon, 22 Aug 2011 17:36:50 +0000 admin http://www.forexsignals.info/eurcad-ascending-triangle-%e2%80%93-short-term-trade.html
On a two-hourly chart the EURCAD is forming a nice ascending triangle for a LONG trade. Resistance can clearly be seen at 1.4240-1.4250 so a successful 2 hour close above 1.4260 could see fulfilment of this pattern. The target would be the length of the “base” (being the resistance line) to the lowest trough. We’ve already [...]]]>

On a two-hourly chart the EURCAD is forming a nice ascending triangle for a LONG trade. Resistance can clearly be seen at 1.4240-1.4250 so a successful 2 hour close above 1.4260 could see fulfilment of this pattern.

The target would be the length of the “base” (being the resistance line) to the lowest trough. We’ve already found where the base is we just need to know what that low was back on 12th August… 1.4000 (a round number, coincidence?).

The distance from these two would be 250 pips. Therefore, target of the EURCAD would be 1.4400 (being the distance added to the last trough in the ascending triangle, at 1.4150) and this would be my conservative target, or, 1.4500 being the distance added to the resistance area.

The length of time this should take upon a successful break would be calculated from the first point of resistance to the first trough, being 9th August 6AM to 12th August 12AM = 2 days 18 hours (~ 3 days).

Failure zone for this pattern would be a break of the upward trending trend line which currently sits at 1.4150 (100 pip stop).

We’ll see how this pattern develops today.

]]> http://www.forexsignals.info/eurcad-ascending-triangle-%e2%80%93-short-term-trade.html/feed 0 EUR/CAD: Unfamiliar pair? Familiar set up… http://www.forexsignals.info/eurcad-unfamiliar-pair-familiar-set-up.html http://www.forexsignals.info/eurcad-unfamiliar-pair-familiar-set-up.html#comments Fri, 30 Jul 2010 03:41:30 +0000 admin http://www.forexsignals.info/eurcad-unfamiliar-pair-familiar-set-up.html 7-29-2010 DAILY FOREX.png
After a week of hard-fought gains and higher lows in the EUR/CAD, the Euro has weakened slightly against the Canadian Dollar and corrected lower intraday. After exhausting at the resistance of the Forecast area between 1.3575 and 1.3603 (F)–which projected the upside target following the Rising Wedge continuation–prices are moving lower in what likely is [...]]]>

After a week of hard-fought gains and higher lows in the EUR/CAD, the Euro has weakened slightly against the Canadian Dollar and corrected lower intraday. After exhausting at the resistance of the Forecast area between 1.3575 and 1.3603 (F)–which projected the upside target following the Rising Wedge continuation–prices are moving lower in what likely is intraday profit-taking.

7-29-2010 DAILY FOREX.png

The EUR/CAD has returned lower through the upper trend line, and is now testing support around 1.3550. After dipping lower to the 38.2% Fibonacci Retracement at 1.3530 and finding buying momentum, prices are trading around the 23.6% Fibonacci level, which overlaps with 1.3550.

Since the daily chart is strong, that bullish sentiment will be reflected by traders buying into the intraday pullback in expectation of a continuation of the uptrend. The market direction on the 30-minute chart is a narrow-ranging accumulation cycle, as confirmed by the one-bar Initial Trend reading. This suggests that the current consolidation between the 23.6% and 50% Fibonacci levels will continue.

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