EUR/CAD – 1H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish trend down to the next support level at 1.48752 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.50179 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Up’ candle pattern is detected. The candles show ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. 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 | 1.51400 |
| 2nd High | 1.50590 |
| Next High | 1.50179 |
| Current Price | 1.49868 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up