EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance line at 1.62565 is certain.
Caution: A possible counter-trend in the direction of the support line at 1.61956 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The currency pair could go up.
Next a ‘Northern Doji’ candlestick chart pattern is found. The candles show ‘Northern Doji’. which 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.62565 |
| Current Price | 1.62604 |
| Next Low | 1.61956 |
| 2nd Low | 1.61906 |
| 3rd Low | 1.60262 |
1.62517 – 1.62434 – 1.62565 – 1.61956 – 1.62117 – 1.61906 — 45.603358238144 – 46.351570341884 — 41.902157398967 – 43.009976704143 – 43.238292987609 – 42.222897464465
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –