EUR/CAD – 4H – BUY

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

A bullish trend upwards to the next resistance at 1.62171 is considered certain.

Caution: A possible trend reversal in the direction of the support line at 1.61389 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.62171 – 1.62864 – 1.6403 – 1.61389 – 1.61452 – 1.62342 —
1.61849 – 1.61886 —
44.530524272962 – 44.594900165529 —
– —
1.62171 – 1761912000

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