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EURCAD trade ideas

EUR/CAD: Wave 5 Trade SetupEUR/CAD is presenting a compelling long setup as what appears to be a five-wave impulse from the June lows looks ready for its final leg higher. The structure shows a classic wave 4 correction that has found support right where Elliott Wave theory suggests it should—setting up a potential wave 5 that could deliver solid risk-to-reward for patient traders. What the Current Structure Shows (Primary Scenario) Clean Five-Wave Impulse in Progress: The move up from the June 2025 lows has unfolded in a textbook impulsive pattern, with waves 1, 2, and 3 clearly defined and wave 4 appearing to have completed its correction. Wave 4 Finds Support: The correction has retraced to a level that respects the typical boundaries for a fourth wave—not too deep to overlap with wave 1, but enough to provide a healthy pullback before the final push. Wave 5 Setup: With wave 4 likely complete, the structure points to wave 5 beginning, targeting the equality relationship with wave 1 at 1.6170. Why the Count Is Labeled This Way The initial surge from the lows shows strong, impulsive characteristics with clear five-wave subdivisions. Wave 3 extended beyond the typical 1.618 relationship with wave 1, which is common in strong trends. The current level, at around 1.5927, represents a logical support zone where wave 4 should find its footing. Trade Setup: Riding the Final Wave Entry: Current levels, with wave 4 appearing to have bottomed. Stop Loss: Below 1.5952—if price breaks this level, the wave count is invalidated and suggests wave 4 may be more complex or the entire structure needs reassessment. Target: 1.6170, where wave 5 achieves equality with wave 1. This is a classic Elliott Wave projection when wave 3 has been the extended wave in the sequence. What to Watch Next (Confirmation or Invalidation) Confirmation: A break of the B wave termination point at 160.50 would be confirmation that wave 5 may have started. Invalidation: A break below 1.5928 would suggest wave 4 is not complete and may be forming a more complex correction. After Wave 5: Once the target is reached, expect a significant correction as the entire five-wave sequence from the June lows completes. Alternate Count If the current support fails, wave 4 could extend into a more complex correction—possibly a triangle or double zigzag—before wave 5 begins. This would delay but not necessarily invalidate the bullish scenario.
Long
by TheSignalService
1
BUY EURCAD now for a four hour time frame bullish trend continuBUY EURCAD now for a four hour time frame bullish trend continuation ............... STOP LOSS: 1.60037 This buy trade setup is based on hidden bullish divergence trend continuation trading pattern ... Always remember, the trend is your friend, so whenever you can get a signal that the trend will continue, then good for you to be part of it TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything... Remember to risk only what you are comfortable with... trading with the trend, patient and good risk management is the key to success here
Long
by BALE_FX
EURCAD: Sell signal on Double Channel Up Top.EURCAD is bullish on its 1D technical outlook (RSI = 63.955, MACD = 0.010, ADX = 41.562) having peaked on two Channel Up patterns at the same time. Technically it should now start the new bearish wave to test the bottom a little below the 1D MA50. Short, TP = 1.57000. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURCAD: Liquidity taken, imbalance left behindPrice swept the liquidity above the previous day’s high and then broke structure to the downside. That’s often a sign that smart money was hunting stops before shifting direction. Now I’m watching for price to come back and fill the imbalance (FVG) it left after the break. If that happens and price respects the FVG zone, we could see a continuation lower with the next target being the previous day’s low where more liquidity is likely sitting. I’ve also added the 50 EMA here as confluence. It helps keep me trading in line with the broader market flow and stops me from fighting the trend. This is one of those spots where patience is key . Let the market return to the zone on its own terms, wait for a reaction, and keep protecting your mindset just as carefully as your capital.
Short
by J4mesWick
Lingrid | EURCAD April High - Key Resistance Level TestThe price perfectly fulfilled my last idea . FX:EURCAD is extending its bullish leg after breaking out of both a triangle pattern and the downward trendline. The pair reached the 1.59500 resistance area and is now hovering within a broad supply zone where previous reactions occurred. Unless bulls force a sustained breakout, the price may revisit the 1.58060 support for reaccumulation. 📈 Key Levels Sell zone: 1.59500 - 1.59700 Sell trigger: breakdown below 1.59000 Target: 1.58060 Buy trigger: above 1.57500 💡 Risks False breakout from resistance could trap late buyers Extended move may prompt short-term profit-taking Break below the upward trendline weakens bullish momentum If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
Short
by Lingrid
15
EURCAD Wave Analysis – 3 July 2025- EURCAD reversed from resistance zone - Likely to fall to support level 1.5800 EURCAD currency pair recently reversed down from the major resistance zone located between the strong resistance level 1.6150 (former yearly high from 2018) and the resistance level 1.5965 (former Double Top from 2020). The downward reversal from this resistance zone stopped the previous impulse waves 5 and (3). Given the strength of the resistance level 1.6150 and the bearish divergence on the weekly Stochastic indicator, EURCAD currency pair can be expected to fall further to the next support level 1.5800.
Short
by FxProGlobal
EURCAD – Over a Decade of Rejections Finally Breaking the Cycle?EURCAD is once again testing the legendary multi-year resistance between 1.60 and 1.6150, a zone that has caused at least 5 major rejections since 2014. Each of those led to significant drawdowns — yet this time, price is pressing deeper into it, potentially signaling a macro regime shift if bulls follow through. Key Technical Observations Timeframe: 1W “Multi-Year Supply Zone” or “Overhead Resistance Zone”: 1.60 – 1.6150 Historical Reaction Dates: 🔸 17 Mar 2014 🔸 18 Jan 2016 🔸 19 Mar 2018 🔸 16 Mar 2020 🔸 27 Jul 2020 Current Candle (30 Jun 2025): Pierced the zone briefly — now hovering just inside Volume: Noticeable uptick in the last few weeks — interest is real Structure Below: Strong accumulation base breakout around 1.5280, serving as major support now TLDR EURCAD is testing a monster historical supply zone (1.60–1.6150) for the 6th time in 11 years. This could be the breakout that changes the macro trend, but without confirmation, it's still a zone to respect. Disclaimer This is for educational purposes only. Not financial advice.
by SLPHOBIA
How a Triple Breakout and Daily Reversal Signal Point to a 25%..How a Triple Breakout and Daily Reversal Signal Point to a 25% Bullish Opportunity on EURCAD Introduction A strong bullish signal has formed on the EURCAD currency pair, capturing the attention of traders using a combination of breakout confirmation and daily chart reversal signals. With a clear confluence across the 4-hour, daily, and weekly timeframes, this technical setup offers a well-supported case for a buy position with an estimated 25% upside, targeting the 1.6100 level. Whether traded intraday or held for a few days, the structure of this trade offers exceptional technical clarity and reward potential. ✅ Key Technical Highlights 🔹 4-Hour Breakout Confirmation The EURCAD pair has broken decisively above a recent range high on the 4-hour chart. This breakout occurred on increased volume, which validates the move as more than a false spike. Price action shows bullish momentum building as candles close strongly above the 50-period EMA, indicating short-term strength. 🔹 Weekly Chart Breakout Structure Zooming out, the weekly chart reveals that EURCAD has cleanly broken through a key resistance zone, which had previously capped price several times. The breakout aligns with the long-term trend shift, reinforcing the bullish narrative from a macro perspective. Support now sits firmly below at previous resistance. 🔹 Daily Chart Reversal Signal The daily chart offers the most critical insight: a strong reversal pattern, potentially a bullish engulfing or morning star, has formed near the breakout area. This suggests a change in sentiment and invites buying pressure as traders react to the clear reversal signal after a recent pullback. This reversal provides timing precision for the trade. 🎯 Take-Profit and Target Projection The price target is placed at 1.6100, which corresponds to: A previous structural high A Fibonacci extension zone A round psychological number respected historically The move to this level offers a potential 25% profit window, depending on entry price and lot size. This makes it attractive for both day traders and short-term swing traders. 🕒 Trade Duration Outlook While this breakout setup is forming across the weekly and daily charts, the 4-hour entry makes it highly suitable for day trading. Traders who prefer intraday execution can look for a pullback to breakout support for entry, followed by momentum confirmation from RSI or volume spikes. Swing traders may hold the position over several days, aiming for the full stretch to the 1.6100 target, while trailing stops to lock in profits. ⚠️ Risk and News Awareness Traders must remain cautious of: Oil price movements, which directly impact CAD strength Economic data from the Eurozone or Canada (GDP, employment, interest rate updates) Central bank speeches that may introduce volatility Risk should be limited by placing stop-loss orders just below the 4-hour breakout level or the low of the daily reversal candle. 📌 Why This EURCAD Setup Matters This setup is more than just a breakout—it combines: Multi-timeframe confirmation Momentum breakout on the 4-hour chart Weekly structure validation Daily chart reversal timing These factors build a strong technical case for bullish continuation and provide high confidence for experienced and new traders alike. Conclusion EURCAD presents a powerful trading opportunity backed by clear technical signals across major timeframes. With a 25% upside and precise entry timing from a daily reversal pattern, this is the kind of setup traders seek for both fast profits and well-structured trades. Whether approached as a day trade or a swing play, the EURCAD breakout is one to watch. Disclaimer: This content is for educational and informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any financial instrument. Use a simulation trading account before you trade with real money and learn risk management and profit taking strategies.
Long
by lubosi
EURCAD - Weekly Resistance Might Shift The Momentum!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURCAD has been overall bullish trading within the rising channel marked in blue. However, it is currently approaching the upper bound of the channel. Moreover, the red zone is a strong weekly resistance. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue trendline and resistance. 📚 As per my trading style: As #EURCAD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by TheSignalyst
3
EUR/CAD BEARS ARE STRONG HERE|SHORT Hello, Friends! We are now examining the EUR/CAD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 1.588 level. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ✅LIKE AND COMMENT MY IDEAS✅
Short
by EliteTradingSignals
4