EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance level at is certain.
Caution: A possible counter-trend in the direction of the support zone at 1.60625 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ candle chart pattern is found. The candles form ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.61036 |
| Next Low | 1.60625 |
| 2nd Low | 1.60146 |
| 3rd Low | 1.59976 |
1.60970 – 1.60631 – 1.60539 – 1.60625 – 1.60146 – 1.59976
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji –