EUR/CAD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.50239 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.50239 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Bullish Engulfing’ candlestick pattern is existing. The candles form ‘Bullish Engulfing’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50308 |
| Next High | 1.50239 |
| Current Price | 1.50010 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Engulfing