EUR/CAD – 4H – BUY

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

A continuation of the bullish trend up to the next resistance at 1.63406 will continue.

Caution: A possible counter-trend in the direction of the support zone at 1.61926 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Northern Doji’ candlestick pattern is found. The chart forms ‘Northern Doji’. which is a positive pattern signal. The currency 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).

1.63406 – 1.62557 – 1.63127 – 1.61926 – 1.61389 – 1.61452 —
1.63244 – 1.62912 —
55.196235855594 – 55.135357655684 —
– —
1.63406 – 1763064000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom retreat down – – – –