EURCAD Bullish

Analysis Price: 1.6164 (Updated: 17 August 2025, 12:47 UTC)

Comprehensive analysis for EURCAD showing a predominantly bullish bias with 76% bullish consensus based on combined analytical factors. Raw trader sentiment shows 30% long, 70% short. Market structure, technical patterns, and key levels examined across multiple timeframes.

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Signal Overview

Bullish Medium Confidence Medium Risk

Market Consensus:

76% Long

24% Short

Valid Timeframes:

M15 H1 H4 D1

Signal Analysis:

The analysis indicates a medium confidence bullish bias for EURCAD (signal strength: 52%). Supporting factors include: High probability (95%) support zone detected at 1.6109. Contradicting factors: Retail sentiment is 70% bearish. Risk assessment for this trade is medium. This signal is most valid on the M15, H1, H4, D1 timeframes.

Sentiment Analysis

Note: The sentiment chart below shows actual trader positioning data (30% long / 70% short). The overall bullish bias (76%) mentioned in the page header represents our analytical consensus based on combined technical factors beyond raw sentiment.

LONG SHORT

30% 70%

Historical Sentiment (7 Days)

Sentiment Interpretation

Bearish sentiment with 70% of traders holding short positions. The market has a negative bias, but watch for signs of exhaustion if this percentage increases further.

Support & Resistance Analysis

Resistance Levels

R1: 1.6173 0.06% ↑

Analysis Price: 1.6164

Support Levels

S1: 1.6088 0.47% ↓

Market Regime:

Uptrend

Analyst Bias:

Unknown

Direction Probability:

85%

Price Position Analysis

Price is currently near resistance at 1.6173 (0.06% above analysis price) with support at 1.6088 (0.47% below). This position near resistance could present a potential selling opportunity with a favorable risk-reward ratio.

Chart Pattern Analysis

51%

Rectangle

Reliability:

51%

Detected: Aug 17, 07:43

Pattern Analysis Interpretation

Predominantly neutral patterns detected, suggesting a potential consolidation phase. The most reliable pattern is a neutral Rectangle on the D1 timeframe with 51% historical reliability. This pattern is currently only confirmed on the D1 timeframe.

High Probability Zones

Support Zone

95%

Zone Level:

1.6004

analysis price:

1.6164

Distance:

0.99%

Confluence Factors:

Bullish Engulfing 62% Retracement

Valid on Timeframes:

H1 H4 D1 W1

Support Zone

95%

Zone Level:

1.5958

analysis price:

1.6164

Distance:

1.27%

Confluence Factors:

Double Bottom 79% Retracement Volume Spike

Valid on Timeframes:

H1 H4 D1 W1

Support Zone

79%

Zone Level:

1.5550

analysis price:

1.6164

Distance:

3.79%

Confluence Factors:

Hammer 127% Extension Volume Spike

Valid on Timeframes:

H1 H4 D1 W1

High Probability Zones Interpretation

Price is approaching a high probability (95%) support zone at 1.6004, currently 0.99% away. Consider preparing a buy strategy as price approaches this level, watching for confirmation signals.

Multiple high probability zones exist for this pair, indicating a well-structured technical environment with clear levels for trading decisions.

Volatility Analysis

Select Timeframe:

Daily Range (pips):

67.0

Volatility Regime:

High

Volatility Level:

86%

10-Day ATR Trend

Volatility Interpretation (H1)

EURCAD is experiencing high volatility (86 percentile) with an expected daily range of 67.0 pips. This above-average movement creates trading opportunities but requires careful risk management. Consider slightly wider stop losses and moderate position sizing.

Correlation Analysis

Top Correlations with EURCAD

CADJPY

-0.87

EURCHF

0.76

EURAUD

0.76

CADCHF

-0.75

EURGBP

0.70

Correlation Interpretation

Understanding how EURCAD correlates with other pairs can help with portfolio diversification and risk management. Strong positive correlations (above 0.7) indicate pairs that move similarly, while strong negative correlations (below -0.7) show pairs that typically move in opposite directions.

EURCAD shows strong positive correlation with: EURCHF, EURAUD, EURGBP. This means these pairs tend to move in the same direction. Trading in the same direction on multiple correlated pairs increases portfolio risk, while finding divergences between correlated pairs can highlight potential reversal opportunities.

EURCAD shows strong negative correlation with: CADJPY, CADCHF. This means these pairs tend to move in opposite directions. Negatively correlated pairs can be useful for hedging strategies or to confirm signals (a buy signal in one pair would be supported by a sell signal in the negatively correlated pair).

Currency Strength Analysis

Select Timeframe:

EUR

0.90

Very-strong

CAD

0.38

Strong

Relative Strength:

0.52

Bullish Bias

Currency Strength Interpretation (M15)

EUR is significantly stronger than CAD on the M15 timeframe, with a relative strength of 0.52. This suggests a strong bullish bias for EURCAD. However, this bias is primarily driven by the strength of EUR.

How to Use This Analysis

This comprehensive analysis provides multiple perspectives on EURCAD to help inform your trading decisions:

Sentiment Analysis: Use to understand market positioning and potential contrarian opportunities
Support & Resistance: Identify key price levels for setting stop losses and take profits
Pattern Analysis: Recognize technical formations that may indicate continuation or reversal
Volatility Analysis: Adjust position sizing and risk management based on current market conditions
Currency Strength: Compare the relative performance of individual currencies within the pair
Correlation Analysis: Understand how this pair moves in relation to others for portfolio diversification

For optimal results, consider how these different factors align. The strongest trading opportunities typically occur when multiple analytical tools show confirmation across different timeframes.