EUR/CAD – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.49734 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of resistance at 1.49633 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ chart pattern is found. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49734 |
| Next High | 1.49633 |
| Current Price | 1.49553 |
| Next Low | 1.48347 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers