EUR/CAD – 1H – SELLAnd also a ‘Double bottom retreat down’ chart formation is discovered. The chart shows ‘Double bottom retreat down’. which is a negative signal. The pair is likely to go down.
The currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish trend downwards to the next support at 1.61046 is certain.
Caution: A possible change in the direction of the resistance line at 1.61535 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. 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 | 1.61791 |
| 2nd High | 1.61783 |
| Next High | 1.61535 |
| Current Price | 1.61464 |
| Next Low | 1.61046 |
| 2nd Low | 1.60627 |
| 3rd Low | 1.60602 |
1.61535 – 1.61308 – 1.61294 – 1.61046 – 1.60627 – 1.60717 —
1.61388 – 1.61666 —
55.883017989156 – 62.363952557002 —
– —
1.61535 – 1767675600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom retreat down – – – – – – – –