EUR/CAD – 4H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A bearish trend downwards to the next support at 1.49090 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.50501 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Belt Hold’ candlestick chart pattern is detected. The chart forms ‘Bullish Belt Hold’. 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 chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.49692 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold