EUR/CAD – 4H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance line at 1.61355 will continue.
Caution: A possible trend reversal in the direction of the support line at could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish chart scenario. The currency pair is likely to rise.
In addition a ‘%K crosses above %D’ indicator layout is existing. The indicator is ‘%K crosses above %D’. this is usually a bullish chart scenario. The currency pair is likely to rise.
In addition a ‘Northern Doji’ candlestick chart pattern is found. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 | 1.61677 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.61355 – 1.61791 – 1.62146 – 1.60602 – 1.61298 – 1.61281 —
1.61983 – 1.61623 —
68.022641493744 – 51.141014999797 —
– —
1.61355 – 1767024000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top chart pattern – – – – – – – –