EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance level at 1.57524 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.56074 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish chart scenario. The currency pair could go up.
Besides a ‘Northern Doji’ candle pattern is found. The chart shows ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Besides a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.58093 |
| 2nd High | 1.57532 |
| Next High | 1.57524 |
| Current Price | 1.56584 |
| Next Low | 1.56074 |
| 2nd Low | 1.55757 |
| 3rd Low | 1.55756 |
1.56473 – 1.56580 – 1.57524 – 1.56074 – 1.55757 – 1.55756
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji