First, check his previous post on the eurcad forex pair. The 1.53 alert was triggered, but I couldn’t get the monthly candle close to confirm the bullish breakout. Check out the 10 year monthly candle chart below. The classical chart pattern “ascending channel” is in effect. Watch out¬†for eventual resistance if upper boundary reached. ¬†Arrows indicate the measured move applied to the breakout line. Target 1.71 which coincide with early 2009 highs.

eurcad_m

The 5 year weekly candle chart show the price action closing in on the 1.53 breakout line.

eurcad_w

A final zoom in on the 1 year daily candle chart. Current 6 months bullish uptrend in progress.

eurcad_d

There it is. Will Monday bring something new to this pair? I reset my alerts at 1.53 and will wait for a trigger.