EUR/CAD – 4H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance level at 1.63174 is likely expected.
Caution: A possible trend reversal in the direction of the support line at 1.61423 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candlestick pattern is found. The candles form ‘Three White Soldiers’. 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 chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63406 |
| 2nd High | 1.6334 |
| Next High | 1.63174 |
| Current Price | 1.63018 |
| Next Low | 1.61423 |
| 2nd Low | 1.61066 |
| 3rd Low | 1.60602 |
1.62623 – 1.62259 – 1.62103 – 1.61423 – 1.61066 – 1.61434 —
1.61787 – 1.62984 —
47.411188650654 – 73.51401086489 —
1.61423 – 1769184000 —
1.62623 – 1768910400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers – – – – – – – – –