EUR/CAD – 1H – BUY

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

A continuation of the upward movement upwards to the next resistance at 1.6334 is expected.

Caution: A possible counter-trend in the direction of the support level at 1.62465 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.6334 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.6334 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. this 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 chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

1.6334 – 1.62906 – 1.62804 – 1.62465 – 1.62094 – 1.6175 —
1.63109 – 1.63025 —
60.472090606168 – 49.048895189127 —
– —
1.63340 – 1764086400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom chart pattern – – – – – – – –