EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline up.
A continuation of the upward movement up to the next resistance line at 1.55541 is certain.
Caution: A possible change in the direction of the support line at 1.54975 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.55138 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance line at 1.55541 could happen.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart scenario. The pair is likely to go up.
And also a ‘Bullish Belt Hold’ candle pattern is discovered. The candles show ‘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 success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
And also a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.56375 |
| 2nd High | 1.55686 |
| Next High | 1.55541 |
| Current Price | 1.55417 |
| Next Low | 1.54975 |
| 2nd Low | 1.54129 |
| 3rd Low | 1.53262 |
1.55138 – 1.54650 – 1.54545 – 1.54975 – 1.54129 – 1.53262
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold