EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
An ascent upwards to the next resistance at 1.58798 will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 1.56118 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Above the Stomach’ chart pattern is found. The chart shows ‘Above the Stomach’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Above the Stomach’ heading up is 66% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.60421 |
| 2nd High | 1.59276 |
| Next High | 1.58798 |
| Current Price | 1.57134 |
| Next Low | 1.56118 |
| 2nd Low | 1.55998 |
| 3rd Low | 1.55861 |
1.58798 – 1.58682 – 1.59276 – 1.56118 – 1.56198 – 1.57632 —
1.56619 – 1.57192 —
42.905172568271 – 61.970293387915 —
– —
1.58798 – 1772739000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Above the Stomach – – – – – – – – –