EUR/CAD – 1H – BUY

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

A continuation of the uptrend upwards to the next resistance level at 1.60382 is certain.

Caution: A possible reversal of the trend in the direction of the support level at 1.59055 is within the realm of possibility.
Consider stop-loss settings accordingly.

Next a ” indicator signal is found. The indicator shows ”. which could be a positive signal. The currency pair is likely to rise.

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Next a ‘StochRSI %K line crosses above %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses above %D line’. which could be a positive signal. The currency pair is likely to rise.

Next a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which is often a bullish chart scenario. The currency pair could go up.

Next a ‘Three Outside Up’ candlestick chart pattern is found. The candles form ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

1.60287 – 1.59535 – 1.59881 – 1.59055 – 1.59029 – 1.5922 —
1.60296 – 1.60408 —
66.628537216203 – 64.82514150131 —
– —
1.60287 – 1778076000

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