EUR/CAD – 1H – BUY

The combination Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.

A continuation of the upward movement upwards to the next resistance at 1.61118 is likely expected.

Caution: A possible counter-trend in the direction of the support zone at 1.60647 should be noted.
Consider stop-loss settings accordingly.

Next a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bullish signal. The pair is likely to go up.

Next a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.61118 – 1.61230 – 1.60486 – 1.60647 – 1.59283 – 1.60168 — 67.197150963322 – 68.918642937752 — 94.57544058053 – 94.57544058053 – 95.619598061682 – 94.57544058053

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –