EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
The bearish trend down to the next support line at 1.47911 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.49400 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 1.490925 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 1.49400 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50501 |
| Next High | 1.49400 |
| Current Price | 1.48360 |
| Next Low | 1.47911 |
| 2nd Low | 1.47595 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers