EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline down.

A continuation of the downward movement down to the next support level at 1.61408 will continue.

Caution: A possible reversal of the trend in the direction of resistance at 1.6174 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘%K crosses below %D’ indicator layout is detected. The indicator shows ‘%K crosses below %D’. which could be a negative chart signal. The currency pair could go down.

Next a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. this is a bullish 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).

1.6174 – 1.61853 – 1.61874 – 1.61408 – 1.61644 – 1.61599 —
1.61705 – 1.61823 —
51.222931224345 – 59.104062117275 —
– —
1.61740 – 1768455000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – – – – – – – –