EUR/CAD – 4H – BUY

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

A bullish ascent up to the next resistance at 1.61355 is expected.

Caution: A possible reversal of the trend in the direction of the support line at could occur.
Consider stop-loss settings accordingly.

Also there is a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Current target is 1.61374 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.61355 could occur.
Consider stop-loss settings accordingly.

Also there is a ‘Northern Doji’ candlestick chart pattern is found. The candles form ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.61355 – 1.61791 – 1.62146 – 1.60602 – 1.61298 – 1.61281 —
1.61174 – 1.61126 —
43.000308642551 – 51.895359222725 —
– —
1.61355 – 1767024000

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