EUR/CAD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.61644348 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.61653 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Belt Hold’ candle pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive signal. The pair is likely to go up. 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 | 1.61823 |
| 2nd High | 1.6168 |
| Next High | 1.61653 |
| Current Price | 1.61494 |
| Next Low | 1.61319 |
| 2nd Low | 1.61066 |
| 3rd Low | 1.61046 |
1.61653 – 1.6168 – 1.61565 – 1.61319 – 1.61323 – 1.61066 —
1.61503 – 1.61494 —
52.173166310518 – 53.45951317665 —
– —
1.61653 – 1768813200
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – – – – – – – – –