EUR/CAD Weekly Short Setup – Bearish Reversal Play
Initiated a short position on EUR/CAD from a key resistance zone after a significant upward move showing signs of exhaustion.
🔻 Entry: ~1.5689
🔻 Stop Loss: 1.6100 (Approx. 3.10%)
🎯 Take Profit: 1.3390 (Approx. 14.67%)
⚖️ Risk/Reward Ratio: 4.73
Price is reacting to a weekly supply zone with multi
About Euro / Canadian Dollar
The Euro vs. the Canadian Dollar. The Euro is the second most popular reserve currency in the world and is considered to be very stable. The Canadian dollar is the seventh most commonly traded currency in the world and is highly dependent on Canada’s exporting of its natural resources, especially oil.
Related currencies
EURCAD Sell- Go for short term sell then manage your trade
- keep looking for sell even if price goes one more up
- potentially go lower
- in any case it has to at least go down to 1.5500 level or lower
- Refine entry with smaller SL for better RR, if your strategy allow
A Message To Traders:
I’ll be shar
EUR/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
The BB upper band is nearby so EUR-CAD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.575.
Disclosure: I am part of Trade Nati
EURCAD: Short Trade Explained
EURCAD
- Classic bearish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Sell EURCAD
Entry - 1.5823
Stop - 1.5865
Take - 1.5738
Our Risk - 1%
Start protection of your profits from lower levels
Disclosure: I am part of Trade Nation's Influencer program and receive a
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Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The value of the EURCAD pair is quoted as 1 EUR per x CAD. For example, if the pair is trading at 1.50, it means it takes 1.5 CAD to buy 1 EUR.
EURCAD is a minor currency pair, i.e. a popular pair that is not associated with USD. Such pairs are also called cross currency pairs.
Currencies are usually traded through forex brokers — choose the one that suits your needs and go ahead. You can trade EURCAD right from TradingView charts — just log in to you broker account. Check out the list of our integrated brokers and find the best one for your needs and strategy.