EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance level at 1.61535 is certain.
Caution: A possible trend reversal in the direction of the support level at 1.61046 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ candle chart pattern is discovered. The chart forms ‘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 likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61791 |
| 2nd High | 1.61783 |
| Next High | 1.61535 |
| Current Price | 1.61613 |
| Next Low | 1.61046 |
| 2nd Low | 1.60743 |
| 3rd Low | 1.60627 |
1.61535 – 1.61426 – 1.61267 – 1.61046 – 1.60743 – 1.60627 —
1.61473 – 1.61608 —
61.343767096748 – 63.128990266338 —
– —
1.61535 – 1767677400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – – – – – – – –