EUR/CAD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 1.58093784 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of resistance at 1.58520 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Bullish Belt Hold’ chart pattern is found. 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 probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.59319 |
| Next High | 1.58520 |
| Current Price | 1.57967 |
| Next Low | 1.56714 |
| 2nd Low | 1.54155 |
| 3rd Low | 1.54067 |
1.58520 – 1.57748 – 1.57771 – 1.56714 – 1.57155 – 1.56923
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold