EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.
A bullish ascent up to the next resistance level at 1.58798 will persist.
Caution: A possible trend reversal in the direction of the support zone at 1.56118 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bullish Belt Hold’ candlestick pattern is discovered. The candles form ‘Bullish Belt Hold’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.60421 |
| 2nd High | 1.59276 |
| Next High | 1.58798 |
| Current Price | 1.56925 |
| Next Low | 1.56118 |
| 2nd Low | 1.55998 |
| 3rd Low | 1.55861 |
1.58798 – 1.58682 – 1.59276 – 1.56118 – 1.56198 – 1.57632 —
1.56566 – 1.56800 —
44.719638335875 – 53.488762919824 —
– —
1.58798 – 1772739000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – – – – – – – – –