EUR/CAD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 1-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.5977285 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.59833 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Below The Stomach’ candlestick pattern is existing. The chart forms ‘Below The Stomach’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Below The Stomach’ heading down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.60382 |
| 2nd High | 1.60271 |
| Next High | 1.59833 |
| Current Price | 1.59656 |
| Next Low | 1.59607 |
| 2nd Low | 1.59351 |
| 3rd Low | 1.5902 |
1.59833 – 1.60271 – 1.60382 – 1.59607 – 1.59889 – 1.59929 —
1.59833 – 1.59689 —
43.717097473793 – 39.814715373992 —
1.59833 – 1777330800 —
– 1777330800
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Below The Stomach – – – – – – – – –