EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A descent downwards to the next support line at 1.48766 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.49251 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bullish Meeting Lines’ candle chart pattern is detected. The chart shows ‘Bullish Meeting Lines’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Meeting Lines’ heading up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49791 |
| 2nd High | 1.49400 |
| Next High | 1.49251 |
| Current Price | 1.48900 |
| Next Low | 1.48766 |
| 2nd Low | 1.48358 |
| 3rd Low | 1.48319 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Meeting Lines