EUR/CAD – 4H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards
A continuation of the upward movement up to the next resistance line at 1.49734 is likely expected.
Caution: A possible trend reversal in the direction of the support line at 1.48205 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Three Outside Up’ candlestick pattern is found. The chart shows ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.51696 |
| Next High | 1.49734 |
| Current Price | 1.50453 |
| Next Low | 1.48205 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up