EUR/CAD – 30M – BUY

The combination Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.

An ascending movement up to the next resistance at 1.56515 will continue.

Caution: A possible trend reversal in the direction of the support level at could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 1.56678516 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance level at 1.56515 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish chart signal. The currency pair is likely to rise.

Furthermore a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.56515 – 1.56919 – 1.56549 – 1.56091 – 1.56060 – 1.56267

Download EUR/CAD Signal Image

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