EUR/CAD – 4H – BUYThe pair Euro/Canadian Dollar (EUR/CAD) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance at 1.62575 will continue.
Caution: A possible counter-trend in the direction of the support level at 1.61154 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ candle pattern is discovered. The chart forms ‘Northern Doji’. this is a bullish 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.62575 |
| Current Price | 1.63119 |
| Next Low | 1.61154 |
| 2nd Low | 1.60796 |
| 3rd Low | 1.59283 |
1.62575 – 1.62247 – 1.61813 – 1.61154 – 1.60796 – 1.59283 — 63.615661311141 – 63.380677297648 — 93.185708612355 – 99.733442690178 – 75.462981982846 – 91.551680911333
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –