EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
A bullish movement up to the next resistance at 1.49099 will continue.
Caution: A possible counter-trend in the direction of the support zone at 1.48347 could occur.
Consider stop-loss settings accordingly.
Then a ‘Three Outside Up’ candle pattern is discovered. The chart shows ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49734 |
| 2nd High | 1.49437 |
| Next High | 1.49099 |
| Current Price | 1.48983 |
| Next Low | 1.48347 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47883 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up