EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline upwards
An ascent up to the next resistance line at 1.49791 is considered certain.
Caution: A possible change in the direction of support at 1.48752 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The candles form ‘Bearish SBS White Lines’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50501 |
| 2nd High | 1.50378 |
| Next High | 1.49791 |
| Current Price | 1.49059 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines