EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
A bullish ascent up to the next resistance level at 1.57990 will persist.
Caution: A possible change in the direction of the support line at 1.57245 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart scenario. The currency pair could go up.
Furthermore a ‘Northern Doji’ chart pattern is found. The candles show ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Furthermore a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.58262 |
| 2nd High | 1.58012 |
| Next High | 1.57990 |
| Current Price | 1.58084 |
| Next Low | 1.57245 |
| 2nd Low | 1.56944 |
| 3rd Low | 1.56714 |
1.57990 – 1.58012 – 1.58262 – 1.57245 – 1.56944 – 1.57563
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji