EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance level at 1.61355 will persist.
Caution: A possible reversal of the trend in the direction of the support zone at 1.60602 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘%K crosses above %D’ indicator signal is existing. The indicator is ‘%K crosses above %D’. which is often a bullish signal. The currency pair could go up.
Additionally a ‘Northern Doji’ candle chart pattern is found. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62146 |
| 2nd High | 1.61791 |
| Next High | 1.61355 |
| Current Price | 1.61658 |
| Next Low | 1.60602 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.56444 |
1.61355 – 1.61791 – 1.62146 – 1.60602 – 1.61298 – 1.61281 —
1.61690 – 1.61642 —
61.257953043051 – 53.97486882798 —
– —
1.61355 – 1767024000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom chart pattern – – – – – – – –