The pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A bearish movement down to the next support at 1.49090 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.49943 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 1.49873622 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.49943 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.50179 |
2nd High | 1.50115 |
Next High | 1.49943 |
Current Price | 1.49646 |
Next Low | 1.49090 |
2nd Low | 1.48752 |
3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers