EUR/CAD – 30M – BUYThe pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
The bearish trend down to the next support level at will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.58180 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish signal. The currency pair could go down.
Besides a ‘Northern Doji’ candle chart pattern is existing. The candles form ‘Northern Doji’. which is a positive 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).
Besides a ‘Double top chart pattern’ chart pattern is discovered. The chart picture forms ‘Double top chart pattern’. which is a negative chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.59602 |
| 2nd High | 1.59508 |
| Next High | 1.58180 |
| Current Price | 1.57510 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.58180 – 1.57790 – 1.57872 – 1.57215 – 1.57202 – 1.57085
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji