EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 1.61046 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 1.61535 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The pair is likely to go up.
Next a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bullish signal. The pair is likely to go up.
Next a ‘Northern Doji’ candlestick chart 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 probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61791 |
| 2nd High | 1.61783 |
| Next High | 1.61535 |
| Current Price | 1.61359 |
| Next Low | 1.61046 |
| 2nd Low | 1.60743 |
| 3rd Low | 1.60627 |
1.61535 – 1.61426 – 1.61267 – 1.61046 – 1.60743 – 1.60627 —
1.61205 – 1.61337 —
34.448355419061 – 49.748492339049 —
1.61046 – 1767718800 —
1.61535 – 1767677400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom retreat down – – – – – – – –