EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
A bullish trend up to the next resistance level at 1.61722 will persist.
Caution: A possible trend reversal in the direction of the support zone at 1.60899 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Engulfing’ chart pattern is discovered. The candles show ‘Bullish Engulfing’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62019 |
| 2nd High | 1.61783 |
| Next High | 1.61722 |
| Current Price | 1.61595 |
| Next Low | 1.60899 |
| 2nd Low | 1.60742 |
| 3rd Low | 1.60602 |
1.61722 – 1.61783 – 1.62019 – 1.60899 – 1.61016 – 1.61055 —
1.61195 – 1.61600 —
36.218842834697 – 58.753839718655 —
– —
1.61722 – 1771344000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Engulfing – – – – – – – – –