EUR/CAD – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 1.486555 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.48443 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Outside Up’ chart pattern is found. The chart shows ‘Three Outside Up’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49251 |
| 2nd High | 1.48597 |
| Next High | 1.48443 |
| Current Price | 1.48287 |
| Next Low | 1.47911 |
| 2nd Low | 1.47687 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up