EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance level at 1.49734 will continue.
Caution: A possible counter-trend in the direction of the support zone at 1.48205 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.51696 |
| Next High | 1.49734 |
| Current Price | 1.49553 |
| Next Low | 1.48205 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers