EUR/CAD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.50060652 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.50059 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Bearish SBS White Lines’ candlestick chart pattern is found. The candles form ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50179 |
| Next High | 1.50059 |
| Current Price | 1.49610 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines