EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.
A bearish trend down to the next support at 1.48319 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.49400 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Belt Hold’ candlestick pattern is discovered. The candles show ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49400 |
| Current Price | 1.48884 |
| Next Low | 1.48319 |
| 2nd Low | 1.47595 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold