EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance at 1.59603 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.59114 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candle chart pattern is existing. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. 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 | |
| 2nd High | |
| Next High | 1.59603 |
| Current Price | 1.59960 |
| Next Low | 1.59114 |
| 2nd Low | 1.58741 |
| 3rd Low | 1.57931 |
1.59603 – 1.59507 – 1.59354 – 1.59114 – 1.58741 – 1.57931
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji