EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 1.49600 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 1.48986 could happen.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Up’ chart pattern is detected. The candles show ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49660 |
| Next High | 1.49600 |
| Current Price | 1.49438 |
| Next Low | 1.48986 |
| 2nd Low | 1.48325 |
| 3rd Low | 1.47883 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up