Buy EUR/CAD – 30M – BUY

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

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