EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance line at 1.61791 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 1.61046 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a positive chart signal. The currency pair could go up.
Besides a ‘Northern Doji’ candlestick pattern is discovered. The candles form ‘Northern Doji’. which 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 probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62069 |
| 2nd High | 1.61895 |
| Next High | 1.61791 |
| Current Price | 1.61785 |
| Next Low | 1.61046 |
| 2nd Low | 1.60627 |
| 3rd Low | 1.60602 |
1.61666 – 1.61535 – 1.61308 – 1.61046 – 1.60627 – 1.60717 —
1.61388 – 1.61728 —
47.9362444852 – 62.84000408621 —
– —
1.61666 – 1767758400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Head and Shoulder chart pattern – – – – – – – –