EUR/CAD – 30M – BUYIn addition a ‘Double bottom retreat down’ chart layout is detected. The chart shows ‘Double bottom retreat down’. this is a bearish chart scenario. The currency pair is likely to fall.
The pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline upwards
A continuation of the upward movement upwards to the next resistance level at 1.57324 will continue.
Caution: A possible trend reversal in the direction of support at 1.56444 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.
In addition a ‘Three Line Strike – Bullish’ candle chart pattern is existing. The chart shows ‘Three Line Strike – Bullish’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.57886 |
| 2nd High | 1.57497 |
| Next High | 1.57324 |
| Current Price | 1.57232 |
| Next Low | 1.56444 |
| 2nd Low | 1.55998 |
| 3rd Low | 1.55861 |
1.57094 – 1.57086 – 1.57324 – 1.56444 – 1.56711 – 1.56746
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Line Strike – Bullish