EUR/CAD – 1H – BUY

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

A bullish movement up to the next resistance level at 1.62716 is considered certain.

Caution: A possible trend reversal in the direction of the support level at 1.62151 should be noted.
Consider stop-loss settings accordingly.

Next a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. this is usually a bullish signal. The currency pair is likely to rise.

Next a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. which is a positive 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’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.62716 – 1.62612 – 1.63176 – 1.62151 – 1.61678 – 1.62539 —
1.62481 – 1.62561 —
51.977659299958 – 56.143964650894 —
– —
1.62716 – 1764684000

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