EUR/CAD – 4H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish descent down to the next support level at 1.48752 is likely expected.
Caution: A possible change in the direction of the resistance line at 1.50501 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Bullish Belt Hold’ chart pattern is existing. The chart shows ‘Bullish Belt Hold’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.49051 |
| Next Low | 1.48752 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold