EUR/CAD – 1H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance at 1.6236 is certain.
Caution: A possible change in the direction of the support line at 1.61603 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Tri-Star’ candle chart pattern is found. The chart forms ‘Bullish Tri-Star’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Tri-Star’ heading up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63936 |
| 2nd High | 1.62697 |
| Next High | 1.6236 |
| Current Price | 1.62100 |
| Next Low | 1.61603 |
| 2nd Low | 1.61442 |
| 3rd Low | 1.61231 |
1.6236 – 1.62064 – 1.61817 – 1.61603 – 1.61993 – 1.61442 —
1.62352 – 1.62168 —
67.595750344129 – 55.657742649665 —
– —
1.6236 – 1782756000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Tri-Star – Rising Wedge Chart Pattern – – – – – – – –