EUR/CAD – 30M – BUY

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

An ascent up to the next resistance line at 1.59455 is certain.

Caution: A possible reversal of the trend in the direction of support at 1.59156 could be enabled.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart signal. The currency pair could go up.

Next a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.59535 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.59455 could be enabled.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Up’ candlestick pattern is existing. The chart forms ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

1.59455 – 1.59432 – 1.59274 – 1.59156 – 1.59055 – 1.59029 —
1.59383 – 1.59399 —
59.904083074717 – 56.484488463954 —
– —
1.59455 – 1778032800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Up – – – – – – – – –