EUR/CAD – 1H – BUY

The currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards

A bullish movement upwards to the next resistance level at 1.62334 is likely expected.

Caution: A possible counter-trend in the direction of the support zone at 1.61791 could happen.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish signal. The currency pair could go up.

In addition a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which is often a bullish signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Current target is 1.62558 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 1.62334 could happen.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The currency 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).

1.62334 – 1.63095 – 1.63378 – 1.61791 – 1.61831 – 1.61738 —
1.61968 – 1.62183 —
46.143685115445 – 56.730006215311 —
– —
1.62334 – 1763564400

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