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).
Support & Resistance | Price Range* |
---|---|
3rd High | 1.57524 |
2nd High | 1.56919 |
Next High | 1.56515 |
Current Price | 1.56510 |
Next Low | |
2nd Low | |
3rd Low |
1.56515 – 1.56919 – 1.56549 – 1.56091 – 1.56060 – 1.56267
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji