EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
A bullish trend up to the next resistance line at 1.61567 will continue.
Caution: A possible change in the direction of the support level at 1.61055 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘StochRSI %K line crosses above %D line’ indicator layout is existing. The indicator is ‘StochRSI %K line crosses above %D line’. which could be a positive signal. The currency pair could go up.
Next a ‘Bullish Belt Hold’ candle chart pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63936 |
| 2nd High | 1.62013 |
| Next High | 1.61567 |
| Current Price | 1.61393 |
| Next Low | 1.61055 |
| 2nd Low | 1.60742 |
| 3rd Low | 1.60627 |
1.61567 – 1.62013 – 1.63936 – 1.61055 – 1.6111 – 1.60742 —
1.61329 – 1.61323 —
49.724698172979 – 48.673918096243 —
– —
1.61567 – 1770116400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – Rising Wedge Chart Pattern – – – – – – – –