SELL EURCAD – 1.61485

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EURCAD

Trade ID: eurcadsell1769711540143 | Execution: 327803
Status
WON
Direction
SELL
Entry Price
1.61485
Targets Hit
3 / 3

Trade Levels

Entry, Stop Loss & Take Profit Targets
Level
Price
Pips
Status
Hit Time
Entry Price
1.61485
0
Filled
Jan 29, 2026 6:32 PM
Stop Loss
1.61605
12
Not Hit
-
Take Profit 1
1.61413
7.2
HIT
2026-01-29 18:54:00
Take Profit 2
1.61329
15.6
HIT
2026-01-29 19:36:00
Take Profit 3
1.61185
30
HIT
2026-01-30 01:22:00

Trade Analysis

Strategy & Reasoning
Strategy
Trend Following
Reason
Sell triggered on a technical bearish sweep of a high, targeting continuation within a larger bearish multi-timeframe structure. The setup is reinforced by a bearish order block and structural stop-loss, although OBV divergence presents a minor conflict.
Details

The trade is a high-probability trend-following sell based on a confluence of technical factors: a bearish order block and an equal highs sweep pattern on the lower timeframes, signaling seller dominance and liquidity takeout. The H4 and higher timeframe context is bearish, and the stop loss is placed beyond recent structure. Fundamentally, the CAD is bolstered by a 5% surge in WTI oil (a key Canadian export) due to Iran tensions, and BoC Governor Macklem's comments highlighting fragility may lean less dovish. Concurrent USD weakness (Trump criticizing Fed, DXY near lows) could create cross-currency pressure favorable for CAD strength against the EUR, which lacks directly bullish catalysts in the provided news flow. The high volatility environment supports momentum moves.

Confluence Metrics

Technical & Fundamental Analysis Scores
Technical Confluence
ORDER_BLOCK, EQUAL_HL_SWEEP, Multi-Timeframe Bearish Alignment, Structure-Based SL
Fundamental Sentiment
CAD Supported by Surging Oil Prices (WTI +5%), BoC Hawkish Tone, General USD Weakness
Confidence Score
88
Trade Conviction
High
Reasoning Completeness
Medium
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