EUR/CAD during the recent uptrend by reaching to the resistance range, obvious in the picture below, in 17.04.2013 after testing of the descending trend line has been fallen down. Sellers during this downtrend were successful in achieving the lowest level of 1.30647 that by passing of the price from this level, there is the potential for more descend and moving toward the important supportive level of 1.29456.right now the price during the downfall by reaching to the ascending trend line ( made of two bottom prices ) has been stooped from more descending and if the ascending candle closes at the end of today, the price level of 1.30647 will record as a bottom price that warns about changing price direction.
As it is obvious in the chart below, Stoch indicator is in saturation sell area and also in divergence mode with the price chart that warns about changing price direction during the next candles and confirms the third point of this ascending trend line. The first warning for ascending of the price is breaking of the 1.31442 level and then by passing of the downtrend channel. According to the current situation until the ascending trend line is preserved, there is a potential for ascending of the price toward the descending trend line.