EUR/CAD – 1H – BUYIn addition a ‘Double top retreat up’ chart formation is discovered. The chart forms ‘Double top retreat up’. which is a bullish chart scenario. The pair is likely to go up.
The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance at 1.57324 is expected.
Caution: A possible change in the direction of the support zone at should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish signal. The currency pair could go up.
In addition a ‘Northern Doji’ candle pattern is discovered. The candles form ‘Northern Doji’. which is a bullish pattern signal. 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.58434 |
| 2nd High | 1.57886 |
| Next High | 1.57324 |
| Current Price | 1.56952 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.57324 – 1.57886 – 1.58434 – 1.56620 – 1.55998 – 1.56088
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji