EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance line at 1.56919 will continue.
Caution: A possible change in the direction of the support line at 1.55979 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ chart pattern is existing. The chart shows ‘Northern Doji’. which is a bullish chart scenario. 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’ going up is 52% (Bull Market) & 51% (Bear Market).
Moreover a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.57532 |
| 2nd High | 1.57524 |
| Next High | 1.56919 |
| Current Price | 1.56804 |
| Next Low | 1.55979 |
| 2nd Low | 1.55900 |
| 3rd Low | 1.55757 |
1.56709 – 1.56677 – 1.56726 – 1.55979 – 1.56050 – 1.56091
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji