EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline downwards
A descent down to the next support at 1.47371 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 1.49734 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bullish Harami’ candlestick pattern is existing. The candles form ‘Bullish Harami’. 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 likelyhood of ‘Bullish Harami’ heading up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49996 |
| 2nd High | 1.49907 |
| Next High | 1.49734 |
| Current Price | 1.48337 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Harami