EUR/CAD – 1H – BUY

The pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards

A bullish ascent upwards to the next resistance level at 1.61308 is likely expected.

Caution: A possible trend reversal in the direction of the support level at could happen.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair is likely to fall.

There is also a ‘%K crosses below %D’ indicator signal is detected. The indicator is ‘%K crosses below %D’. which could be a negative signal. The currency pair is likely to fall.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.61177292 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance level at 1.61308 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Northern Doji’ chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. 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).

1.61308 – 1.61294 – 1.61242 – 1.60627 – 1.60717 – 1.60602 —
1.61078 – 1.61139 —
54.726903867204 – 47.993101246434 —
– —
1.61308 – 1767376800

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – – – – – – – –