EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
An ascent up to the next resistance line at 1.60819 will persist.
Caution: A possible trend reversal in the direction of support at 1.60262 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. this is usually a bullish signal. The currency pair could go up.
There is also a ‘Northern Doji’ candle pattern is detected. The candles show ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. 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 | 1.62247 |
| 2nd High | 1.61434 |
| Next High | 1.60819 |
| Current Price | 1.60961 |
| Next Low | 1.60262 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.59114 |
1.60819 – 1.61434 – 1.62247 – 1.60262 – 1.60272 – 1.60854 — 60.114528390177 – 64.384181159549 — 74.158398767234 – 85.74625632707 – 70.278420391642 – 77.028437338182
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Triple bottom chart pattern – –