EUR/CAD – 1H – BUY

The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline upwards

A continuation of the uptrend upwards to the next resistance line at 1.56726 is certain.

Caution: A possible counter-trend 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 is certain. Target of the current trend is 1.56644532 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.56726 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish signal. The currency pair is likely to rise.

Then a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish pattern signal. The 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).

1.56726 – 1.56919 – 1.56899 – 1.56060 – 1.55900 – 1.55756

Download EUR/CAD Signal Image

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