EUR/CAD – 4H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.57401 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at 1.57401 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ candlestick pattern is existing. The chart forms ‘Northern Doji’. which is a positive 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).
Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.58565 |
| Next High | 1.57401 |
| Current Price | 1.57379 |
| Next Low | 1.53824 |
| 2nd Low | 1.53262 |
| 3rd Low | 1.49746 |
1.57401 – 1.55858 – 1.56715 – 1.53824 – 1.53262 – 1.55638
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji