EUR/CAD – 4H – BUY

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

A bullish ascent up to the next resistance line at 1.61701 is certain.

Caution: A possible reversal of the trend in the direction of the support level at 1.57176 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.60383412 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.61701 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three White Soldiers’ candle pattern is found. The chart shows ‘Three White Soldiers’. this 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 success rate of a ‘Three White Soldiers’ going up is 82%.

1.59296 – 1.58343 – 1.61701 – 1.57176 – 1.56202 – 1.56118 —
1.58886 – 1.59116 —
61.682843561219 – 63.530599523311 —
– —
1.59296 – 1773964800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three White Soldiers – – – – – – – – –