EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance level at 1.60271 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.59889 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. 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 | 1.61186 |
| 2nd High | 1.60382 |
| Next High | 1.60271 |
| Current Price | 1.59767 |
| Next Low | 1.59889 |
| 2nd Low | 1.59654 |
| 3rd Low | 1.59351 |
1.60271 – 1.60382 – 1.60235 – 1.59889 – 1.59929 – 1.59654 —
1.60237 – 1.59847 —
51.393917995659 – 30.023641425816 —
– —
1.60271 – 1777273200
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – – – – – – – –