EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance at 1.6275 is certain.
Caution: A possible change in the direction of the support level at 1.62157 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ candle pattern is existing. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.6275 |
| Current Price | 1.63044 |
| Next Low | 1.62157 |
| 2nd Low | 1.62049 |
| 3rd Low | 1.6198 |
1.6275 – 1.62503 – 1.62681 – 1.62157 – 1.62049 – 1.6198 — 58.674568333327 – 61.905594135338 — 90.609485581494 – 90.140018543948 – 92.835346434925 – 91.873134357554
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –