EUR/CAD – 4H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.
A descent down to the next support at 1.47595 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.50501 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Outside Up’ candle pattern is found. The candles show ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.49044 |
| Next Low | 1.47595 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up