EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A descending movement down to the next support level at 1.48205 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.49734 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three White Soldiers’ candle chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The currency 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 | |
| 2nd High | 1.51696 |
| Next High | 1.49734 |
| Current Price | 1.49475 |
| Next Low | 1.48205 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers