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EUR/CAD Likely To Keep Rising

Published 08/23/2016, 06:34 AM
Updated 03/09/2019, 08:30 AM

Autochartist recently identified the clear triangle chart pattern on the EUR/CAD charts. The overall quality of this chart pattern is measured at the 6-bar level – which is the result of the slow initial trend (3 bars), above-average uniformity (6-bars) and substantial clarity (8 bars).

Higher clarity reflects the strength of the price impulses between the upper and lower trendlines of this triangle. EUR/CAD is expected to rise inside this chart pattern in the coming trading sessions.

EUR/CAD: 89 Candles

As can be seen from the following chart – the upper boundary of the daily expected price range calculated for this currency pair (1.4753) nearly coincides with the upper resistance trendline of the aforementioned triangle – which adds to the probability EUR/CAD will continue to rise tomorrow.

EUR/CAD: Expected Price Range

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