EUR/CAD – 1H – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.

A bearish movement downwards to the next support level at 1.62094 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.63176 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.6212524 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.63176 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Northern Doji’ candlestick pattern is found. The chart shows ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. 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).

1.63176 – 1.6334 – 1.62906 – 1.62539 – 1.62465 – 1.62094 —
1.62701 – 1.62605 —
38.683125345831 – 32.040305601205 —
– —
1.63176 – 1764176400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top chart pattern – – – – – – – –