EUR/CAD – 1H – BUY

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

An ascent up to the next resistance line at 1.59535 is likely expected.

Caution: A possible change in the direction of support at 1.59055 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive chart scenario. The pair is likely to go up.

Moreover a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. this is usually a bullish signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.60008448 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance zone at 1.59535 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three White Soldiers’ candlestick pattern is discovered. The candles form ‘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 chance of ‘Three White Soldiers’ heading up is 82%.

1.59535 – 1.59881 – 1.60034 – 1.59055 – 1.59029 – 1.5922 —
1.59390 – 1.59531 —
56.106911888023 – 64.73718481878 —
– —
1.59535 – 1777910400

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