EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 1.60129 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.61155 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ candle pattern is found. The chart shows ‘Northern Doji’. this is a bullish 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62035 |
| 2nd High | 1.61434 |
| Next High | 1.61155 |
| Current Price | 1.60786 |
| Next Low | 1.60129 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.59114 |
1.60922 – 1.60819 – 1.60526 – 1.60129 – 1.60287 – 1.60262 — 52.683751667048 – 49.811348536458 — 4.1098592301322 – 0.91548539518899 – 9.1087544098181 – 4.2424763392657
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top chart pattern – –