EUR/CAD – 4H – SELL

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

A bearish descent downwards to the next support line at 1.61678 is considered certain.

Caution: A possible counter-trend in the direction of the resistance zone at 1.6334 is within the realm of possibility.
Consider stop-loss settings accordingly.

Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart scenario. The currency pair is likely to rise.

Furthermore a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which is often a bullish signal. The currency pair could go up.

Furthermore a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. which 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).

1.6334 – 1.63406 – 1.62557 – 1.61678 – 1.61738 – 1.61926 —
1.62242 – 1.62570 —
39.032348385762 – 49.980501525474 —
– —
1.63340 – 1764086400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Inverse Head and Shoulder chart pattern – – – – – – – –