EUR/CAD – 1H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards
A bullish movement up to the next resistance level at 1.48465 is expected.
Caution: A possible counter-trend in the direction of the support level at 1.48022 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Three White Soldiers’ candle pattern is discovered. The chart forms ‘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 probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49400 |
| 2nd High | 1.49251 |
| Next High | 1.48465 |
| Current Price | 1.48399 |
| Next Low | 1.48022 |
| 2nd Low | 1.47911 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers