EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
A bullish trend upwards to the next resistance level at 1.49600 is likely expected.
Caution: A possible trend reversal in the direction of support at 1.48986 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candle chart pattern is found. The candles show ‘Three White Soldiers’. this is a bullish chart scenario. 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 | 1.49660 |
| Next High | 1.49600 |
| Current Price | 1.49588 |
| Next Low | 1.48986 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers