EUR/CAD – 1H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support at 1.47371 is considered certain.
Caution: A possible change in the direction of the resistance level at 1.49734 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candlestick pattern is found. The candles form ‘Three White Soldiers’. this is a bullish signal. The pair is likely to go up. 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 | 1.49996 |
| 2nd High | 1.49907 |
| Next High | 1.49734 |
| Current Price | 1.48484 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers