EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance line at 1.48587 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 1.47371 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.48307 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.48587 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Tri-Star’ candle chart pattern is discovered. The candles show ‘Bullish Tri-Star’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Tri-Star’ heading up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49263 |
| 2nd High | 1.48896 |
| Next High | 1.48587 |
| Current Price | 1.48482 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Tri-Star