EUR/CAD – 30M – BUY

The currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards

A continuation of the upward movement upwards to the next resistance level at 1.60970 is expected.

Caution: A possible reversal of the trend in the direction of the support line at 1.60146 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bullish signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Current target is 1.6097 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.60970 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.60970 – 1.60631 – 1.60539 – 1.60146 – 1.59976 – 1.60104

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top chart pattern