EUR/CAD – 4H – BUYThe combination Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance line at 1.59602 will continue.
Caution: A possible counter-trend in the direction of the support zone at 1.56444 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Northern Doji’ candlestick pattern is existing. The candles form ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.59602 |
| Current Price | 1.59960 |
| Next Low | 1.56444 |
| 2nd Low | 1.55730 |
| 3rd Low | 1.55350 |
1.58434 – 1.56811 – 1.57071 – 1.56444 – 1.55730 – 1.55350
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji