EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance level at 1.63378 is expected.
Caution: A possible change in the direction of the support level at 1.62498 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. 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 | 1.6403 |
| Next High | 1.63378 |
| Current Price | 1.62971 |
| Next Low | 1.62498 |
| 2nd Low | 1.62079 |
| 3rd Low | 1.61926 |
1.63378 – 1.62557 – 1.63101 – 1.62498 – 1.62079 – 1.61926 —
1.62816 – 1.62869 —
51.365646172469 – 54.794766418422 —
– —
1.63378 – 1763132400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – – – –