EUR/CAD – 1H – BUY

The currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards

The bullish trend upwards to the next resistance at 1.61556 is likely expected.

Caution: A possible change in the direction of the support level at is also possible.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive signal. The currency pair is likely to rise.

And also a ‘Advance Block’ chart pattern is existing. The chart forms ‘Advance Block’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Advance Block’ heading down is 64% (Bull Market) & 61% (Bear Market).

1.61556 – 1.61549 – 1.61567 – 1.61113 – 1.61167 – 1.61055 —
1.61391 – 1.61511 —
49.041246610854 – 57.290427917966 —
– —
1.61556 – 1770289200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Advance Block – – – – – – – – –