EUR/CAD – 30M – BUY

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

A continuation of the uptrend up to the next resistance level at 1.62364 is considered certain.

Caution: A possible counter-trend in the direction of the support line at 1.6204 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a positive signal. The currency pair is likely to rise.

Next a ‘Three Outside Up’ candlestick pattern is discovered. The chart shows ‘Three Outside Up’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

1.62219 – 1.62364 – 1.62284 – 1.6204 – 1.61603 – 1.61643 —
1.62257 – 1.62344 —
61.019715454491 – 56.887336237371 —
– —
1.62219 – 1783051200

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