EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance line at 1.49633 will persist.
Caution: A possible trend reversal in the direction of the support level at 1.49205 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Three Outside Up’ candle pattern is detected. The chart forms ‘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 chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49734 |
| Next High | 1.49633 |
| Current Price | 1.49612 |
| Next Low | 1.49205 |
| 2nd Low | 1.48758 |
| 3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up