EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.
A bearish movement downwards to the next support at 1.48752 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 1.50115 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.5059 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 1.50115 could happen.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Outside Up’ candlestick pattern is existing. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51696 |
| 2nd High | 1.50590 |
| Next High | 1.50115 |
| Current Price | 1.49646 |
| Next Low | 1.48752 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up