EUR/CAD – 4H – BUY

The pair Euro/Canadian Dollar (EUR/CAD) breaks through the bearish trendline upwards

A bullish ascent up to the next resistance at 1.62019 is considered certain.

Caution: A possible change in the direction of the support level at 1.60899 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish signal. The pair is likely to go up.

Then a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which is often a bullish chart signal. 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 considered certain. Target of the current trend is 1.62339 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 1.62019 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Northern Doji’ candlestick pattern is existing. The chart shows ‘Northern Doji’. this is a bullish 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’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.62019 – 1.62013 – 1.63936 – 1.60899 – 1.61016 – 1.61055 —
1.61187 – 1.61608 —
42.259256236512 – 50.146372949889 —
– —
1.62019 – 1770652800

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