EUR/CAD – 30M – BUY

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish signal. The pair is likely to go up.

Next a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 1.61615 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance level at 1.61581 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

1.61581 – 1.61615 – 1.61556 – 1.61016 – 1.61113 – 1.61167 —
1.61932 – 1.61539 —
64.346744529746 – 36.248997017489 —
– —
1.61581 – 1770602400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up – – – – – – – – –