EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support at 1.48347 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.49033 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three White Soldiers’ candle chart pattern is found. The candles form ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49437 |
| 2nd High | 1.49099 |
| Next High | 1.49033 |
| Current Price | 1.48912 |
| Next Low | 1.48347 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47883 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers