EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline up.
A continuation of the upward movement up to the next resistance at 1.49251 will continue.
Caution: A possible change in the direction of the support line at 1.48421 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Belt Hold’ candle chart pattern is existing. The candles form ‘Bullish Belt Hold’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49791 |
| 2nd High | 1.49400 |
| Next High | 1.49251 |
| Current Price | 1.48533 |
| Next Low | 1.48421 |
| 2nd Low | 1.48319 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold