EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
An ascent upwards to the next resistance line at 1.57128 is considered certain.
Caution: A possible counter-trend in the direction of support at 1.56202 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Belt Hold’ chart pattern is discovered. The candles show ‘Bullish Belt Hold’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.57689 |
| 2nd High | 1.57175 |
| Next High | 1.57128 |
| Current Price | 1.57256 |
| Next Low | 1.56202 |
| 2nd Low | |
| 3rd Low |
1.57128 – 1.57078 – 1.57175 – 1.56202 – 1.56676 – 1.56663 —
1.56531 – 1.56778 —
17.410560967337 – 47.176977349734 —
1.56202 – 1773399600 —
1.57128 – 1773363600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – – – – – – – – –