EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
A bullish movement up to the next resistance line at 1.55686 is expected.
Caution: A possible counter-trend in the direction of the support line at 1.54979 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ candle pattern is detected. The chart forms ‘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 likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.56536 |
| 2nd High | 1.56375 |
| Next High | 1.55686 |
| Current Price | 1.55312 |
| Next Low | 1.54979 |
| 2nd Low | 1.54013 |
| 3rd Low | 1.51526 |
1.55686 – 1.56375 – 1.56536 – 1.54979 – 1.55034 – 1.55235
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji