EUR/CAD – 4H – BUY

Also there is a ‘Falling Wedge Chart Pattern’ chart formation is found. The formation shows ‘Falling Wedge Chart Pattern’. which is a positive signal. The currency pair is likely to go up.

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

An ascending movement upwards to the next resistance level at 1.58434 is expected.

Caution: A possible change in the direction of the support line at could be enabled.
Consider stop-loss settings accordingly.

Also there is a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish chart signal. The currency pair could go up.

Also there is a ‘Bullish Engulfing’ candlestick pattern is detected. The candles form ‘Bullish Engulfing’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.

1.58434 – 1.56811 – 1.57071 – 1.55730 – 1.55350 – 1.55775

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bullish Engulfing