EUR/CAD – 1H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 1.48319 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.49400 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three White Soldiers’ chart pattern is existing. The candles show ‘Three White Soldiers’. 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 ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49400 |
| Current Price | 1.49163 |
| Next Low | 1.48319 |
| 2nd Low | 1.47595 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers