The currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance level at 1.57757 will persist.
Caution: A possible reversal of the trend in the direction of the support zone at 1.57019 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.57757 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.57757 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish 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’ heading up is 52% (Bull Market) & 51% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 1.58434 |
2nd High | 1.57886 |
Next High | 1.57757 |
Current Price | 1.57827 |
Next Low | 1.57019 |
2nd Low | 1.56974 |
3rd Low | 1.56912 |
1.57641 – 1.57289 – 1.57757 – 1.57019 – 1.56974 – 1.56912
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji