EUR/CAD – 1H – BUY

The combination Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.

A continuation of the bullish trend up to the next resistance at 1.58434 is certain.

Caution: A possible change in the direction of the support level at should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart signal. The currency pair is likely to rise.

Then a ‘Hammer’ chart pattern is detected. The chart forms ‘Hammer’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Hammer’ going up is 60% (Bull Market) & 59% (Bear Market).

1.58434 – 1.56666 – 1.56615 – 1.55998 – 1.56088 – 1.55861

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Hammer