EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline up.
A bullish trend up to the next resistance at 1.617 will persist.
Caution: A possible change in the direction of the support level at 1.60743 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Engulfing’ candlestick pattern is existing. The chart shows ‘Bullish Engulfing’. 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 success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63936 |
| 2nd High | 1.62214 |
| Next High | 1.617 |
| Current Price | 1.61069 |
| Next Low | 1.60743 |
| 2nd Low | 1.60627 |
| 3rd Low | 1.60602 |
1.617 – 1.62214 – 1.63936 – 1.61083 – 1.61776 – 1.62597 —
1.61405 – 1.61189 —
51.995524647257 – 36.001806285391 —
– —
1.61700 – 1769734800
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Engulfing – Double bottom retreat down – – – – – – – –