And also a ‘Falling Wedge Chart Pattern’ chart pattern is existing. The chart forms ‘Falling Wedge Chart Pattern’. which is a bullish chart scenario. The pair is likely to go up.
The pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline up.
A continuation of the upward movement upwards to the next resistance at 1.57757 is considered certain.
Caution: A possible trend reversal in the direction of the support line at 1.57019 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.
And also a ‘Bullish Engulfing’ chart pattern is discovered. The candles show ‘Bullish Engulfing’. 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 ‘Bullish Engulfing’ going up is 63%.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.58434 |
2nd High | 1.57886 |
Next High | 1.57757 |
Current Price | 1.57416 |
Next Low | 1.57019 |
2nd Low | 1.56974 |
3rd Low | 1.56912 |
1.57289 – 1.57757 – 1.57371 – 1.57019 – 1.56974 – 1.56912
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Engulfing