EUR/CAD – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.49734 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.49734 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ candlestick chart pattern is existing. The candles show ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. 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 | 1.49501 |
| Next Low | 1.48347 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers