EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.
The bearish trend down to the next support line at 1.48319 is considered certain.
Caution: A possible change in the direction of resistance at 1.49400 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bullish Engulfing’ candle chart pattern is discovered. The candles show ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49400 |
| Current Price | 1.48873 |
| Next Low | 1.48319 |
| 2nd Low | 1.47595 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Engulfing