EUR/CAD – 30M – BUY

The pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards

An ascending movement up to the next resistance at 1.61477 will continue.

Caution: A possible trend reversal in the direction of the support line at 1.61088 could occur.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart signal. The currency pair could go up.

In addition a ‘StochRSI %K line crosses above %D line’ indicator signal is found. The indicator is ‘StochRSI %K line crosses above %D line’. which could be a positive chart signal. The currency pair could go up.

In addition a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which could be a positive signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. Current target is 1.617735 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 1.61477 could occur.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Three Outside Up’ candlestick pattern is found. The candles form ‘Three Outside Up’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

1.61477 – 1.62125 – 1.62424 – 1.61088 – 1.61272 – 1.61631 —
1.61194 – 1.61347 —
31.03875452245 – 44.217325879231 —
– —
1.61477 – 1776387600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up – – – – – – – – –