EUR/CAD – 1H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
An ascending movement up to the next resistance at 1.49362 will continue.
Caution: A possible change in the direction of the support level at 1.47595 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three White Soldiers’ candle pattern is existing. The candles form ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49362 |
| Current Price | 1.48067 |
| Next Low | 1.47595 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers