EUR/CAD – 1H – BUY

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline upwards

A continuation of the uptrend up to the next resistance at 1.60566 is considered certain.

Caution: A possible reversal of the trend in the direction of the support level at 1.6002 could occur.
Consider stop-loss settings accordingly.

In addition a ‘StochOSC Hidden Bullish Divergence’ indicator layout is found. The indicator shows ‘StochOSC Hidden Bullish Divergence’. Dieses ist oftmals ein bullisches signal. Die Paarung wird wahrscheinlich steigen.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is considered certain. Current target is 1.60566 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 1.60566 could occur.
Consider stop-loss settings accordingly.

In addition a ‘Three Outside Up’ candle pattern is found. The chart shows ‘Three Outside Up’. this 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).

1.60566 – 1.60287 – 1.59535 – 1.6002 – 1.59055 – 1.59029 —
1.60269 – 1.60231 —
47.83232520017 – 48.426616116193 —
– —
1.60566 – 1778176800

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