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      EURCAD Bearish Bias Holds as Euro Struggles and CAD Near-Term Support Weakens

      Gerik

      Forex

      Summary:

      EUR/CAD is trading around 1.61–1.62 with the pair showing signs of bearish momentum on short timeframes. Technical indicators, including moving averages and trend metrics, suggest a Sell bias on M15 into the near term...

      Sell

      EURCAD

      EXP
      Trading

      1.61200

      Entry Price

      1.60800

      TP

      1.61900

      SL

      1.61221 +0.00080 +0.05%

      0

      Point

      Flat

      1.60800

      TP

      CLOSING

      1.61200

      Entry Price

      1.61900

      SL

      Market Overview

      EUR/CAD has been relatively flat near 1.61–1.62, bouncing in a range but trending lower intraday as recent fundamentals have put subtle pressure on the euro and the Canadian dollar displays mixed performance amid global risk shifts. The European Central Bank (ECB) left its monetary policy unchanged, keeping interest rates steady as inflation stabilizes, which reduces bullish drivers for the euro. Traders broadly expect continued steady policy without aggressive tightening, which can limit euro strength.
      Meanwhile, the Canadian dollar has shown signs of slight weakening due to risk aversion and broader market conditions, though BoC policy remains firm against aggressive cuts, helping maintain support under CAD. This mix has kept the pair sideways but with technical momentum favoring bearish setups on shorter timeframes.

      Market Sentiment

      Sentiment for EUR/CAD leans toward rejection of further upside in the short term. Retail positioning data shows a larger share of traders on the short side, suggesting bearish conviction among some market participants. With approximately 55% of traders shorting the pair compared to 45% long, this imbalance supports the idea of continued bearish pressure if resistance holds.

      Technical Analysis

      EURCAD Bearish Bias Holds as Euro Struggles and CAD Near-Term Support Weakens_1
      Technical summaries on live charts show a strong sell bias for EUR/CAD across key moving averages and indicators on the M15 timeframe, with most signals pointing toward continuation lower. Oscillators like RSI and MACD typically align with bearish momentum and the lack of strong bullish triggers signals sellers can capitalize on intraday resistance. Immediate resistance clusters near 1.6200–1.6230, with support lower around 1.6080–1.6100—making rallies toward resistance useful entry points for bearish setups.

      Trade Recommendation

      Entry: 1.6120
      Take Profit: 1.6080
      Stop Loss: 1.6190
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.

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