EUR/CAD – 30M – BUY

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

A continuation of the bullish trend up to the next resistance line at 1.61829 will continue.

Caution: A possible reversal of the trend in the direction of the support level at 1.61530 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish signal. The currency pair could go up.

Next a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a positive signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 1.61829 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.61829 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Northern Doji’ candle pattern is existing. The candles show ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.61829 – 1.61733 – 1.61361 – 1.61530 – 1.61219 – 1.60796 — 52.461538558056 – 61.4033326516 — 33.333333333333 – 66.666666666667 – 33.182830654386 – 41.440410972649

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top retreat up – –