EUR/CAD – 1H – BUY

The combination Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.

An ascending movement up to the next resistance level at 1.62013 will persist.

Caution: A possible change in the direction of the support level at 1.61016 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish signal. The currency pair could go up.

Moreover a ‘StochRSI %K line crosses above %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses above %D line’. which is often a bullish signal. The currency pair could go up.

Moreover a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bullish signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.61615 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance line at 1.62013 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Bearish SBS White Lines’ candle chart pattern is found. The candles form ‘Bearish SBS White Lines’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).

1.61615 – 1.61556 – 1.61549 – 1.61016 – 1.61113 – 1.61167 —
1.61845 – 1.61710 —
72.170625499675 – 43.645886999464 —
– —
1.61615 – 1770361200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines – – – – – – – – –