EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards
An ascending movement up to the next resistance level at 1.6275 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 1.61787 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a positive chart scenario. The currency pair could go up.
Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is considered certain. Current target is 1.6216172 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.6275 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ candle pattern is detected. The candles show ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.6275 |
| Current Price | 1.62114 |
| Next Low | 1.61787 |
| 2nd Low | 1.60129 |
| 3rd Low | 1.59283 |
1.6275 – 1.62503 – 1.62681 – 1.62049 – 1.6198 – 1.62041 — 41.823406444613 – 47.149525145562 — 58.573515739142 – 75.676273962899 – 51.36538553449 – 59.817542089334
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –