EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 1.62477 will persist.
Caution: A possible trend reversal in the direction of the support zone at 1.60746 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish SBS White Lines’ candle chart pattern is found. The chart shows ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.6403 |
| 2nd High | 1.63936 |
| Next High | 1.62477 |
| Current Price | 1.62189 |
| Next Low | 1.60746 |
| 2nd Low | 1.60684 |
| 3rd Low | 1.60439 |
1.61995 – 1.61121 – 1.6138 – 1.60746 – 1.60684 – 1.60847 —
1.62073 – 1.62217 —
67.861670902853 – 64.100996494355 —
– —
1.61995 – 1781265600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines – – – – – – – – –