EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance at 1.58434 is certain.
Caution: A possible counter-trend in the direction of the support line at 1.57711 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.59602 |
| 2nd High | 1.59508 |
| Next High | 1.58434 |
| Current Price | 1.58236 |
| Next Low | 1.57711 |
| 2nd Low | 1.57019 |
| 3rd Low | 1.56974 |
1.57641 – 1.57289 – 1.57757 – 1.57711 – 1.57019 – 1.56974
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji