EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance line at 1.61155 is certain.
Caution: A possible reversal of the trend in the direction of support at 1.60129 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three Line Strike – Bullish’ candle chart pattern is discovered. The candles form ‘Three Line Strike – Bullish’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Line Strike – Bullish’ heading up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62035 |
| 2nd High | 1.61434 |
| Next High | 1.61155 |
| Current Price | 1.60827 |
| Next Low | 1.60129 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.59114 |
1.60922 – 1.60819 – 1.60526 – 1.60129 – 1.60287 – 1.60262 — 51.576041916041 – 53.15094092186 — 17.454332894929 – 26.684950662836 – 17.230046767624 – 21.287102753766
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Line Strike – Bullish – – –