EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline upwards
A continuation of the upward movement up to the next resistance at 1.48016 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.47226 could happen.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Engulfing’ candlestick pattern is discovered. The chart shows ‘Bullish Engulfing’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48587 |
| 2nd High | 1.48246 |
| Next High | 1.48016 |
| Current Price | 1.47894 |
| Next Low | 1.47226 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.47177 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Engulfing