EUR/CAD – 4H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline downwards
A bearish trend down to the next support at 1.59283 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.61086 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.
In addition a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive pattern 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.61086 |
| Current Price | 1.60906 |
| Next Low | 1.59283 |
| 2nd Low | 1.56444 |
| 3rd Low | 1.55730 |
1.61086 – 1.58434 – 1.56811 – 1.59283 – 1.56444 – 1.55730 — 51.667703328692 – 49.783970229207 — 2.3913485766155 – 2.3913485766155 – 0.79711619220516 – 1.5942323844103
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top retreat up – –