FxWirePro: DOJI hints earlier trend reversal for EUR/CAD but day's high tests trend-line resistance
On daily charts of EURCAD a serious Doji is formed to trace out caution for bulls. As per our earlier recommendation uptrend continuation persisted as inverted hammer pattern candle occurred at 1.4058 levels which is to …
On daily charts of EURCAD a serious Doji is formed to trace out caution for bulls. As per our earlier recommendation uptrend continuation persisted as inverted hammer pattern candle occurred at 1.4058 levels which is to be considered as a caution of continuation of upswings. But for now a sharp Doji is formed at 1.4313 levels followed by a long real body candle with day's high testing resistance exactly at trend line at 1.4431 levels.
In addition to that leading oscillators are showing convergence with the price spikes. RSI (14) looks healthily converging with every price rises; it has now approached overbought territory finally. So, RSI signifies the prevailing uptrend remains intact.
While another leading oscillator (stochastic) hints us the overbought heaviness though the bulls don't seem to lose rallies built by healthy volumes.
Hence, the trading recommendation would be good to buy binary calls at every dips for targets at 20 pips.
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