EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance level at 1.6138 is certain.
Caution: A possible change in the direction of the support zone at 1.60805 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bullish Belt Hold’ chart pattern is discovered. The candles show ‘Bullish Belt Hold’. which is a bullish 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 | 1.61766 |
| 2nd High | 1.6166 |
| Next High | 1.6138 |
| Current Price | 1.60967 |
| Next Low | 1.60805 |
| 2nd Low | 1.60778 |
| 3rd Low | 1.60439 |
1.6138 – 1.61067 – 1.60823 – 1.60805 – 1.60778 – 1.60439 —
1.61195 – 1.61009 —
50.928745571125 – 40.655736928852 —
– —
1.6138 – 1781026200
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – – – – – – – – –