EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline downwards
A descent down to the next support line at 1.47371 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 1.49734 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ chart pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49996 |
| 2nd High | 1.49907 |
| Next High | 1.49734 |
| Current Price | 1.48594 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers