EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards
The bullish trend up to the next resistance level at 1.56848 will persist.
Caution: A possible trend reversal in the direction of the support line at could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair is likely to rise.
Besides a ‘Northern Doji’ candlestick pattern is detected. The candles show ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.58093 |
| 2nd High | 1.56919 |
| Next High | 1.56848 |
| Current Price | 1.56579 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.56848 – 1.56726 – 1.56919 – 1.56227 – 1.55979 – 1.56060
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji