EUR/CAD – 4H – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is considered certain. Current target is 1.49734 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 1.51696 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Three Outside Up’ candlestick pattern is discovered. The candles form ‘Three Outside Up’. this 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 chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.51696 |
| Current Price | 1.50352 |
| Next Low | 1.48205 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up