EUR/CAD – 1H – BUY

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

The bullish trend upwards to the next resistance line at 1.6334 will continue.

Caution: A possible counter-trend in the direction of the support line at 1.62465 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The pair is likely to go up.

Moreover a ‘%K crosses above %D’ indicator layout is existing. The indicator is ‘%K crosses above %D’. this is usually a bullish chart signal. The pair is likely to go up.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.

Moreover a ‘Northern Doji’ candle chart pattern is existing. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The 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).

1.6334 – 1.62906 – 1.62804 – 1.62465 – 1.62094 – 1.6175 —
1.63161 – 1.63120 —
59.860305322067 – 46.044287066017 —
– —
1.63340 – 1764086400

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