EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance level at 1.56848 is expected.
Caution: A possible trend reversal in the direction of the support level at could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart signal. The currency pair could go up.
And also a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.57524 |
| 2nd High | 1.56919 |
| Next High | 1.56848 |
| Current Price | 1.56570 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.56848 – 1.56838 – 1.56709 – 1.56227 – 1.55979 – 1.56050
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji