EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance level at 1.47547 will persist.
Caution: A possible change in the direction of support at 1.46905 should always be considered.
Consider stop-loss settings accordingly.
Furthermore a ‘Latter Bottom’ candlestick chart pattern is detected. The chart shows ‘Latter Bottom’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48597 |
| 2nd High | 1.48563 |
| Next High | 1.47547 |
| Current Price | 1.47603 |
| Next Low | 1.46905 |
| 2nd Low | 1.46834 |
| 3rd Low | 1.45943 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Latter Bottom