EUR/CAD – 1H – BUYNext a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout 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.
Next a ‘Inverted Hammer’ candlestick pattern is discovered. The chart forms ‘Inverted Hammer’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Inverted Hammer’ heading up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.59602 |
| Next High | 1.57928 |
| Current Price | 1.57722 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.57928 – 1.59602 – 1.58012 – 1.56875 – 1.56665 – 1.58562
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Inverted Hammer