EUR/CAD – 30M – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance line at 1.6275 is expected.
Caution: A possible reversal of the trend in the direction of support at 1.62157 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The currency pair is likely to rise.
In addition a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.6275 |
| Current Price | 1.62612 |
| Next Low | 1.62157 |
| 2nd Low | 1.62049 |
| 3rd Low | 1.6198 |
1.6275 – 1.62503 – 1.62681 – 1.62157 – 1.62049 – 1.6198 — 46.834653500916 – 51.391777795437 — 51.116275910179 – 69.464811212529 – 49.324785037721 – 52.890899175308
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –