EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance line at 1.62434 will persist.
Caution: A possible trend reversal in the direction of the support zone at 1.62049 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bullish signal. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 1.62575 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.62434 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Northern Doji’ candlestick pattern is found. The candles form ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.62575 |
| Next High | 1.62434 |
| Current Price | 1.62551 |
| Next Low | 1.62049 |
| 2nd Low | 1.6198 |
| 3rd Low | 1.61787 |
1.62434 – 1.62575 – 1.62474 – 1.62049 – 1.6198 – 1.62041 — 65.746054392318 – 66.709061541439 — 64.800702304905 – 98.134035638238 – 47.72469741439 – 72.618372466021
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom retreat down – –