EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance at 1.60640 will persist.
Caution: A possible trend reversal in the direction of the support level at 1.59372 could be enabled.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.60640 |
| Current Price | 1.60210 |
| Next Low | 1.59372 |
| 2nd Low | 1.59114 |
| 3rd Low | 1.58741 |
1.60640 – 1.59603 – 1.58491 – 1.59372 – 1.59114 – 1.58741
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top retreat up