EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline downwards
A descending movement downwards to the next support line at 1.49854 is certain.
Caution: A possible trend reversal in the direction of resistance at 1.50501 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Bullish Belt Hold’ chart pattern is discovered. The chart shows ‘Bullish Belt Hold’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.50097 |
| Next Low | 1.49854 |
| 2nd Low | 1.49090 |
| 3rd Low | 1.48752 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold