EUR/CAD – 1H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance at 1.49791 is likely expected.
Caution: A possible trend reversal in the direction of support at 1.48752 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candle pattern is existing. The candles form ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50501 |
| 2nd High | 1.50378 |
| Next High | 1.49791 |
| Current Price | 1.49033 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers