EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance at 1.61535 will continue.
Caution: A possible counter-trend in the direction of the support level at 1.61046 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Belt Hold’ candle pattern is found. The chart forms ‘Bullish Belt Hold’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61791 |
| 2nd High | 1.61783 |
| Next High | 1.61535 |
| Current Price | 1.61525 |
| Next Low | 1.61046 |
| 2nd Low | 1.60743 |
| 3rd Low | 1.60627 |
1.61535 – 1.61426 – 1.61267 – 1.61046 – 1.60743 – 1.60627 —
1.61388 – 1.61473 —
56.286940621522 – 61.34376690032 —
– —
1.61535 – 1767677400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – – – – – – – – –