EUR/CAD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.609785 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 1.61308 could happen.
Consider stop-loss settings accordingly.
Then a ‘Bullish Belt Hold’ candle chart pattern is found. The chart forms ‘Bullish Belt Hold’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61783 |
| 2nd High | 1.61355 |
| Next High | 1.61308 |
| Current Price | 1.61152 |
| Next Low | 1.60627 |
| 2nd Low | 1.60602 |
| 3rd Low | 1.60262 |
1.61308 – 1.61294 – 1.61242 – 1.60627 – 1.60717 – 1.60602 —
1.61070 – 1.61153 —
53.526302496003 – 58.212806124639 —
– —
1.61308 – 1767376800
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – Double top chart pattern – – – – – – – –