EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.
The bearish trend downwards to the next support line at 1.49301 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.51400 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.51696 |
| Next High | 1.51400 |
| Current Price | 1.50082 |
| Next Low | 1.49301 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers