EUR/CAD – 4H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards
A bullish ascent upwards to the next resistance at 1.61355 will continue.
Caution: A possible change in the direction of the support level at 1.60602 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish signal. The pair is likely to go up.
Next a ‘%K crosses above %D’ indicator signal is found. The indicator is ‘%K crosses above %D’. which is often a bullish signal. The pair is likely to go up.
Next a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 1.61781616 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance line at 1.61355 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ candle pattern is existing. The chart forms ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. 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 | 1.61732 |
| Next Low | 1.60602 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.56444 |
1.61355 – 1.61791 – 1.62146 – 1.60602 – 1.61298 – 1.61281 —
1.61500 – 1.61491 —
54.654425874515 – 51.679590842875 —
– —
1.61355 – 1767024000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom chart pattern – – – – – – – –