EUR/CAD – 4H – SELL

The pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards

A continuation of the bearish trend down to the next support level at 1.60602 is certain.

Caution: A possible trend reversal in the direction of the resistance zone at 1.61355 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘%K crosses above %D’ indicator layout is found. The indicator shows ‘%K crosses above %D’. which could be a negative chart scenario. The currency pair could go down.

Moreover a ‘MACD crosses below signal’ indicator layout is found. The indicator shows ‘MACD crosses below signal’. which could be a negative chart scenario. The currency pair could go down.

Moreover a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a positive chart scenario. The 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).

1.61355 – 1.61791 – 1.62146 – 1.60602 – 1.61298 – 1.61281 —
1.61231 – 1.60883 —
55.201369541515 – 45.84734876116 —
– —
1.61355 – 1767024000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Symmetrical Triangle Chart Pattern – – – – – – – –