EUR/CAD – 1H – BUY

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.615215 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 1.61831 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bullish Engulfing’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.

1.61831 – 1.62477 – 1.62238 – 1.60566 – 1.61088 – 1.61272 —
1.60947 – 1.61128 —
37.648888123649 – 48.477213732948 —
– —
1.61831 – 1776441600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Engulfing – – – – – – – – –