EUR/CAD – 1H – BUYThe combination breaks through the descending trendline up.
A bullish ascent upwards to the next resistance at 1.48440 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ chart pattern is detected. The chart shows ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49263 |
| Next High | 1.48440 |
| Current Price | 1.48068 |
| Next Low | |
| 2nd Low | |
| 3rd Low |