EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.
A bullish movement up to the next resistance at 1.47942 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.47492 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ chart pattern is found. The chart forms ‘Three White Soldiers’. which is a bullish 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 White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.47942 |
| Current Price | 1.47913 |
| Next Low | 1.47492 |
| 2nd Low | 1.47177 |
| 3rd Low | 1.45943 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers