EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 1.50475 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 1.49301 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. 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 | 1.51696 |
| 2nd High | 1.51400 |
| Next High | 1.50475 |
| Current Price | 1.50341 |
| Next Low | 1.49301 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers