EUR/CAD – 1H – BUY

The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline up.

An ascent upwards to the next resistance line at 1.61615 is likely expected.

Caution: A possible counter-trend in the direction of the support level at 1.61113 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair could go down.

There is also a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. this is usually a bullish signal. The pair is likely to go up.

There is also a ‘Bearish SBS White Lines’ candlestick chart pattern is found. The chart forms ‘Bearish SBS White Lines’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).

1.61615 – 1.61556 – 1.61549 – 1.61113 – 1.61167 – 1.61055 —
1.61480 – 1.61330 —
48.799288023143 – 35.19652693831 —
– —
1.61615 – 1770361200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines – Double bottom chart pattern – – – – – – – –