EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A bearish movement downwards to the next support level at 1.49090 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.50239 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Up’ chart pattern is discovered. The candles form ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50308 |
| Next High | 1.50239 |
| Current Price | 1.50207 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up