EUR/CAD – 4H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance line at 1.60913 is certain.
Caution: A possible trend reversal in the direction of the support level at 1.56444 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ candle pattern is detected. The candles show ‘Northern Doji’. this 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’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.60913 |
| Current Price | 1.60664 |
| Next Low | 1.56444 |
| 2nd Low | 1.55730 |
| 3rd Low | 1.55350 |
1.60913 – 1.58434 – 1.56811 – 1.56444 – 1.55730 – 1.55350
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji –