EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance at 1.50590 is certain.
Caution: A possible change in the direction of the support level at 1.49854 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The candles form ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.50590 |
| Current Price | 1.50290 |
| Next Low | 1.49854 |
| 2nd Low | 1.49090 |
| 3rd Low | 1.48752 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines