EUR/CAD – 1H – BUY

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

An ascent upwards to the next resistance at 1.57467 is certain.

Caution: A possible trend reversal in the direction of the support level at is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair is likely to rise.

Then a ‘Bullish Belt Hold’ candlestick chart pattern is found. The candles form ‘Bullish Belt Hold’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).

1.57467 – 1.57128 – 1.57175 – 1.56202 – 1.56676 – 1.56663 —
1.56838 – 1.57105 —
46.393244367759 – 56.467772264567 —
– —
1.57467 – 1773417600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Belt Hold – – – – – – – – –