EUR/CAD – 1H – BUY

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

A continuation of the upward movement upwards to the next resistance at 1.61186 is considered certain.

Caution: A possible counter-trend in the direction of the support level at 1.6002 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.

Besides a ‘Northern Doji’ candle chart pattern is detected. 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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.60566 – 1.60287 – 1.59535 – 1.6002 – 1.59055 – 1.59029 —
1.60250 – 1.60384 —
48.19745321258 – 60.001890022488 —
– —
1.60566 – 1778176800

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