EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance line at 1.61728 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 1.61434 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bullish Belt Hold’ candlestick pattern is found. The candles form ‘Bullish Belt Hold’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62146 |
| 2nd High | 1.62103 |
| Next High | 1.61728 |
| Current Price | 1.61873 |
| Next Low | 1.61434 |
| 2nd Low | 1.61185 |
| 3rd Low | 1.61046 |
1.61728 – 1.62103 – 1.61666 – 1.61434 – 1.6146 – 1.61479 —
1.61680 – 1.61876 —
60.086734124672 – 69.639238669418 —
– —
1.61728 – 1767934800
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – Inverse Head and Shoulder chart pattern – – – – – – – –