EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance at 1.62432 is certain.
Caution: A possible trend reversal in the direction of the support zone at 1.62034 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish SBS White Lines’ candlestick pattern is found. The chart shows ‘Bearish SBS White Lines’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63936 |
| 2nd High | 1.62477 |
| Next High | 1.62432 |
| Current Price | 1.62383 |
| Next Low | 1.62034 |
| 2nd Low | 1.60746 |
| 3rd Low | 1.60684 |
1.62432 – 1.61995 – 1.61121 – 1.62034 – 1.60746 – 1.60684 —
1.62315 – 1.62567 —
64.4913600195 – 53.410715503483 —
– —
1.62432 – 1781539200
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines – – – – – – – – –