EUR/CAD – 4H – BUY

The 4H chart for EUR/CAD has fired a cluster of bullish signals, including a Double Top and Triple Top pattern completion, alongside multiple oscillator exits from oversold conditions (CCI, RSI, ULTOSC) and a BOP Zero Cross Up. These signals suggest that selling pressure may be exhausting and that a bullish reversal could be underway. However, the broader trend across all timeframes remains bearish, with the 1H to 4H timeframes showing solid downtrends. This creates a conflict: the short-term reversal signals are occurring within a larger bearish context, which may limit upside potential or lead to a counter-trend bounce rather than a full reversal.

Key levels to watch are the nearest resistance at 1.62476 and support at 1.60703. A break above resistance would strengthen the bullish case, while a move below support would invalidate the reversal signals. Given the strong trend scores on the 4H and lower timeframes, traders should be cautious and wait for confirmation, such as a close above resistance or a shift in higher timeframe trend scores, before committing to long positions.