EUR/CAD – 1H – BUY

Furthermore a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. The pair is likely to go up.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Current target is 1.62364 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of resistance at 1.62364 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Outside Up’ candle chart pattern is found. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

1.62364 – 1.6236 – 1.62064 – 1.61603 – 1.61993 – 1.61442 —
1.62355 – 1.62120 —
57.48126055455 – 52.276172039268 —
– —
1.62364 – 1783011600

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