EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance line at 1.60922 is likely expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.60129 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61434 |
| 2nd High | 1.61155 |
| Next High | 1.60922 |
| Current Price | 1.60912 |
| Next Low | 1.60129 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.59114 |
1.60922 – 1.60819 – 1.60526 – 1.60129 – 1.60287 – 1.60262 — 56.996846385596 – 61.164176825687 — 67.914213585461 – 87.014846635014 – 68.637126163865 – 72.667542552936
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Triple bottom chart pattern – –