Besides a ‘%K crosses below %D’ indicator signal is detected. The indicator is ‘%K crosses below %D’. which could be a negative chart scenario. The currency pair could go down.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Current target is 1.624165 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of resistance at 1.62334 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Below The Stomach’ candlestick chart pattern is found. The chart forms ‘Below The Stomach’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Below The Stomach’ going down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63378 |
| 2nd High | 1.63095 |
| Next High | 1.62334 |
| Current Price | 1.62079 |
| Next Low | 1.61791 |
| 2nd Low | 1.61738 |
| 3rd Low | 1.61606 |
1.62334 – 1.63095 – 1.62912 – 1.61791 – 1.61831 – 1.6193 —
1.61979 – 1.62180 —
50.169680012554 – 68.216656060729 —
– —
1.62334 – 1763564400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Below The Stomach – Double bottom retreat down – – – –