EUR/CAD – 1H – BUY

The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline up.

A continuation of the uptrend upwards to the next resistance level at 1.60913 will persist.

Caution: A possible trend reversal in the direction of the support zone at could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.60913 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 1.60913 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive signal. 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’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.60913 – 1.60640 – 1.59603 – 1.59976 – 1.59372 – 1.59114

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji –