EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance level at 1.50590 is certain.
Caution: A possible trend reversal in the direction of the support level at 1.49090 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ candle pattern is detected. The chart forms ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.50590 |
| Current Price | 1.50428 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers