EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance at 1.49099 will persist.
Caution: A possible counter-trend in the direction of the support level at 1.48347 could occur.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49734 |
| 2nd High | 1.49437 |
| Next High | 1.49099 |
| Current Price | 1.48964 |
| Next Low | 1.48347 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers