EUR/CAD – 1H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance level at 1.48307 will continue.
Caution: A possible counter-trend in the direction of the support line at 1.47371 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candlestick chart pattern is detected. The chart forms ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.48307 |
| Current Price | 1.48358 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers