EUR/CAD – 30M – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance level at 1.61230 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 1.60647 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.
Next a ‘Northern Doji’ candlestick chart pattern is detected. The candles show ‘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 likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.61230 |
| Current Price | 1.61130 |
| Next Low | 1.60647 |
| 2nd Low | 1.60135 |
| 3rd Low | 1.59283 |
1.61118 – 1.61230 – 1.60342 – 1.60647 – 1.60135 – 1.59283 — 70.80179670833 – 70.80179670833 — 83.449126680086 – 95.379087938013 – 84.234789948705 – 87.048460056706
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –