EURCAD (8H) DOWNTREND

7 de jan.

The EURCAD remains bearish as price respects lower pivot highs and holds below critical moving averages, confirming the ongoing downtrend.

• Sell Entry Zone: 1.4974
  
• SSO @ 1.4890 ⌛️, add-on
• TP1: 1.4865
  
• TP2: 1.4773
  
• TP3: 1.4705
  
• TP4: 1.4601
  
• Watch the demand zone (1.4576 - 1.4486) for a potential bounce or consolidation.
  
• Buyers might emerge around the 1.4852 - 1.4773 range as indicated by some bullish moving averages.
  
• Oscillators highlight that price is neither strongly overbought nor oversold, leaving room for further bearish continuation or temporary consolidation.
  
• Enter near 1.4974 with stop-loss above 1.5032.
  
• Target TP levels in sequence as price moves lower.
  
• Monitor the 1.4576 - 1.4486 demand zone for bullish price action signals.
  
• Place conservative buy orders only if the price confirms a strong reversal.
  

RESISTANCE

• Major resistance is observed at 1.5060 (Sell Stop Loss), with a significant supply zone near 1.5032, which aligns with previous pivot highs.
  
• Another intermediate resistance is noted at 1.4974, marking the latest sell order entry point.
  

SUPPORT

• Minor Support (1D): 1.4785, coinciding with the first take-profit level.
  
• Further support at 1.4773 (Mid Pivot TP2) and 1.4705 (Sell Order TP3), with an ultimate TP4 at 1.4601.
  
• A potential demand zone exists between 1.4576 and 1.4486, signaling a possible reversal area if the downtrend extends further.
  

TREND

• Price has consistently failed to breach resistance levels, consolidating below the 1.4974 zone, which acts as a sell-entry trigger.
  
• The chart confirms strong selling pressure with each pivot high and "DT Signal" (Downtrend Signal) leading to new lower lows.
  

OSCILLATORS

• The majority of oscillators indicate a neutral sentiment, but momentum indicators show bearish pressure building up:
  
• Momentum (10): At -0.00838 (Sell), confirming downward pressure.
  
• MACD Level (12, 26): Shows a weak bearish crossover at 0.00040 (Sell).
  
• Bull Bear Power: At -0.00189 (Sell), reinforcing selling sentiment.
  

MOVING AVERAGES

• Exponential Moving Averages (10, 20, 50, 100): All indicate selling pressure with prices trading below these levels.
  
• Simple Moving Averages (10, 20, 100): Confirm the bearish outlook.
  
• Simple Moving Averages (30, 50, 200): Indicate possible support on larger timeframes.
  
• Exponential Moving Average (30): Signals short-term buy potential around 1.49066.
  
• Hull Moving Average (9): Indicates short-term buying sentiment near 1.48533, suggesting price consolidation before further movement.
  

7 de jan.

Nota

Long Term Position Traders
📉 This chart reflects a BIG PICTURE downtrend
📈 Manage your positions during the UT retracement

Swing Traders
📈 I see an Uptrend Retracement based on the 6H timeframe
⚠️ STANDBY FOR AN UPDATED CHART

7 de jan.

Nota

7 de jan.

Nota

CORRECTION:

Swing Traders
📉 This chart (ORIGINAL POST) reflects a downtrend retracement
👨‍💻 Manage your positions around support levels
📈 One of these Support Levels will cause the return to the BIG PICTURE UT

Long Term Position Traders
📈 PA appears to be returning to an Uptrend based on the 6H
⚠️ THE ABOVE IMAGE IS AN UPDATED CHART