EUR/CAD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 1.49297164 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.49734 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Up’ chart pattern is discovered. The candles show ‘Three Outside Up’. 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 likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49996 |
| 2nd High | 1.49907 |
| Next High | 1.49734 |
| Current Price | 1.48882 |
| Next Low | 1.48325 |
| 2nd Low | 1.47883 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up