EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance at 1.62204 is expected.
Caution: A possible change in the direction of the support level at 1.61607 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ candlestick chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish pattern signal. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62459 |
| 2nd High | 1.62424 |
| Next High | 1.62204 |
| Current Price | 1.62147 |
| Next Low | 1.61607 |
| 2nd Low | 1.60746 |
| 3rd Low | 1.60684 |
1.62204 – 1.61995 – 1.61755 – 1.61607 – 1.60746 – 1.60684 —
1.62067 – 1.62138 —
61.905589313334 – 66.879433424932 —
– —
1.62204 – 1781485200
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Rising Wedge Chart Pattern – – – – – – – –