EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline down.

A continuation of the downward movement down to the next support at is likely expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.62068 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Furthermore a ‘%K crosses above %D’ indicator signal is detected. The indicator shows ‘%K crosses above %D’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.61626744 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.62068 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Northern Doji’ candlestick pattern is existing. The chart forms ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

1.62068 – 1.62066 – 1.62623 – 1.61473 – 1.61432 – 1.62002 —
1.62001 – 1.61934 —
55.67267446167 – 41.105805751055 —
– —
1.62068 – 1769130000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Rising Wedge Chart Pattern – – – – – – – –