EUR/CAD – 1H – BUY

The currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards

A bullish trend up to the next resistance at 1.58798 will persist.

Caution: A possible trend reversal in the direction of the support zone at should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish signal. The currency pair could go up.

Moreover a ‘StochRSI %K line crosses above %D line’ indicator layout is found. The indicator shows ‘StochRSI %K line crosses above %D line’. which is often a bullish signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Current target is 1.58842 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 1.58798 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Three Outside Up’ candle chart pattern is discovered. The chart forms ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

1.58798 – 1.59276 – 1.60421 – 1.56118 – 1.58123 – 1.58436 —
1.56597 – 1.57405 —
34.734958900709 – 52.94920636631 —
– —
1.58798 – 1772737200

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up – Symmetrical Triangle Chart Pattern – – – – – – – –