EUR/CAD – 1H – BUY

The pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.

A bullish movement upwards to the next resistance level at 1.57467 will persist.

Caution: A possible counter-trend in the direction of the support level at 1.56202 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Bearish SBS White Lines’ candlestick pattern is detected. The chart forms ‘Bearish SBS White Lines’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).

1.57467 – 1.57128 – 1.57175 – 1.56202 – 1.56676 – 1.56663 —
1.57121 – 1.57017 —
48.621637054355 – 50.073436047522 —
– —
1.57467 – 1773417600

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