EUR/CAD – 4H – BUY

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

An ascent upwards to the next resistance line at 1.61355 is likely expected.

Caution: A possible trend reversal in the direction of the support level at 1.60602 should be noted.
Consider stop-loss settings accordingly.

Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart scenario. The currency pair could go up.

Additionally a ‘%K crosses above %D’ indicator signal is detected. The indicator is ‘%K crosses above %D’. which is often a bullish chart scenario. The currency pair could go up.

Additionally a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. this is usually a bullish signal. The currency pair is likely to rise.

Additionally a ‘Northern Doji’ candle pattern is existing. The candles show ‘Northern Doji’. which is a bullish signal. 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).

1.61355 – 1.61791 – 1.62146 – 1.60602 – 1.61298 – 1.61281 —
1.61083 – 1.61344 —
48.034629067439 – 54.889312010573 —
– —
1.61355 – 1767024000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom retreat down – – – – – – – –