Buy EUR/CAD – 30M – BUY

Furthermore a ‘Double bottom retreat down’ chart formation is discovered. The chart shows ‘Double bottom retreat down’. which is a bearish chart scenario. The currency pair is likely to fall.

The combination Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards

A continuation of the bullish trend upwards to the next resistance line at 1.57094 is certain.

Caution: A possible reversal of the trend in the direction of the support zone at 1.56444 is within the realm of possibility.
Consider stop-loss settings accordingly.

Furthermore a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The pair is likely to go up.

Furthermore a ‘Northern Doji’ candle chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish chart scenario. 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’ heading up is 52% (Bull Market) & 51% (Bear Market).

Support & Resistance Price Range*
3rd High 1.57497
2nd High 1.57324
Next High 1.57094
Current Price 1.57100
Next Low 1.56444
2nd Low 1.55998
3rd Low 1.55861

1.57094 – 1.57086 – 1.57324 – 1.56444 – 1.56711 – 1.56746

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