EUR/CAD – 1H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline up.
An ascent up to the next resistance line at 1.6168 is certain.
Caution: A possible counter-trend in the direction of support at 1.61066 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish signal. The currency pair could go up.
In addition a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
In addition a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61874 |
| 2nd High | 1.61823 |
| Next High | 1.6168 |
| Current Price | 1.61471 |
| Next Low | 1.61066 |
| 2nd Low | 1.61046 |
| 3rd Low | 1.60627 |
1.6168 – 1.61823 – 1.61874 – 1.61066 – 1.61126 – 1.61408 —
1.61472 – 1.61430 —
47.673092848188 – 44.684403771806 —
– —
1.61680 – 1768788000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – – – – – – – –