EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
The bullish trend up to the next resistance level at 1.49943 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.49090 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.4989565 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.49943 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candlestick pattern is found. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50179 |
| 2nd High | 1.50115 |
| Next High | 1.49943 |
| Current Price | 1.49714 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers