EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.
A descent downwards to the next support line at 1.61692 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.62259 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.618465 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 1.62259 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Northern Doji’ candlestick pattern is existing. The chart forms ‘Northern Doji’. which 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 likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63174 |
| 2nd High | 1.62714 |
| Next High | 1.62259 |
| Current Price | 1.61980 |
| Next Low | 1.61692 |
| 2nd Low | 1.61434 |
| 3rd Low | 1.61185 |
1.62259 – 1.61728 – 1.62103 – 1.61692 – 1.61434 – 1.6146 —
1.62133 – 1.62124 —
54.573884388194 – 46.332995884594 —
– —
1.62259 – 1768215600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – – – – – – – –