EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at will persist.
Caution: A possible reversal of the trend in the direction of the support level at 1.61154 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
In addition a ‘Northern Doji’ candle pattern is existing. The chart forms ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.62308 |
| Next Low | 1.61154 |
| 2nd Low | 1.60796 |
| 3rd Low | 1.59283 |
1.62247 – 1.61813 – 1.6123 – 1.61154 – 1.60796 – 1.59283 — 75.659478172321 – 79.111593765549 — 100 – 100 – 99.577097168533 – 100
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom retreat down – –