EUR/CAD – 30M – SELLAnd also a ‘Double bottom retreat down’ chart formation is found. The chart picture forms ‘Double bottom retreat down’. this is a bearish chart scenario. The currency pair is likely to go down.
The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 1.61206 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.61565 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘%K crosses below %D’ indicator signal is detected. The indicator shows ‘%K crosses below %D’. which is often a bearish chart signal. The currency pair is likely to fall.
And also a ‘Northern Doji’ candle chart pattern is found. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61853 |
| 2nd High | 1.61823 |
| Next High | 1.61565 |
| Current Price | 1.61494 |
| Next Low | 1.61206 |
| 2nd Low | 1.61184 |
| 3rd Low | 1.61139 |
1.61565 – 1.61823 – 1.6174 – 1.61206 – 1.61184 – 1.61139 —
1.61446 – 1.61572 —
50.822553941476 – 57.462257421757 —
– —
1.61565 – 1768581000
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom retreat down – – – – – – – –