EUR/CAD – 4H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
An ascending movement up to the next resistance line at 1.50501 is certain.
Caution: A possible reversal of the trend in the direction of support at 1.47595 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.49292 |
| Next Low | 1.47595 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers