EUR/CAD – 1H – BUY

The currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.

A continuation of the uptrend upwards to the next resistance at 1.61535 is certain.

Caution: A possible trend reversal in the direction of the support line at 1.60627 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which is often a bullish chart scenario. The currency pair is likely to rise.

Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.61535 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance line at 1.61535 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.61535 – 1.61308 – 1.61294 – 1.60627 – 1.60717 – 1.60602 —
1.61242 – 1.61371 —
45.393121664385 – 50.55123620141 —
– —
1.61535 – 1767675600

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