EUR/CAD – 30M – BUY

In addition a ‘MACD crosses above signal’ indicator layout is existing. The indicator shows ‘MACD crosses above signal’. which is often a bullish signal. The currency pair is likely to rise.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.57242 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 1.57937 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Hanging Man’ candlestick pattern is existing. The candles form ‘Hanging Man’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Hanging Man’ going down is 59% (Bull Market) & 59% (Bear Market).

1.57937 – 1.58343 – 1.58341 – 1.57242 – 1.57526 – 1.5751 —
1.57512 – 1.57423 —
26.348399278601 – 42.330793555846 —
1.57242 – 1773230400 —
1.57937 – 1773223200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Hanging Man – – – – – – – – –