EUR/CAD – 4H – BUY

The pair Euro/Canadian Dollar (EUR/CAD) breaks through the ascending trendline up.

A continuation of the bullish trend up to the next resistance level at 1.58180 will continue.

Caution: A possible change in the direction of the support level at 1.55730 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair is likely to rise.

And also a ‘Northern Doji’ chart pattern is detected. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.56811 – 1.57071 – 1.57216 – 1.55730 – 1.55350 – 1.55775

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji