EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
A bullish movement up to the next resistance at 1.48016 is expected.
Caution: A possible trend reversal in the direction of the support level at 1.47226 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Tri-Star’ candlestick chart pattern is discovered. The candles show ‘Bullish Tri-Star’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48246 |
| 2nd High | 1.48188 |
| Next High | 1.48016 |
| Current Price | 1.47810 |
| Next Low | 1.47226 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.47177 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Tri-Star