EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance level at 1.50475 is expected.
Caution: A possible counter-trend in the direction of the support level at 1.49646 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 1.50475 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.50475 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Up’ candle pattern is discovered. The candles form ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51696 |
| 2nd High | 1.51400 |
| Next High | 1.50475 |
| Current Price | 1.50114 |
| Next Low | 1.49646 |
| 2nd Low | 1.49301 |
| 3rd Low | 1.49205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up