EUR/CAD – 30M – BUYCorrection of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.61057008 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 1.62013 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Southern Doji’ candle pattern is found. The candles form ‘Southern Doji’. this 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 success rate of a ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63936 |
| 2nd High | 1.62214 |
| Next High | 1.62013 |
| Current Price | 1.61434 |
| Next Low | 1.60742 |
| 2nd Low | 1.60627 |
| 3rd Low | 1.60602 |
1.62013 – 1.6143 – 1.617 – 1.60742 – 1.61083 – 1.61776 —
1.61786 – 1.61546 —
54.144016008971 – 38.669046469814 —
– —
1.62013 – 1770022800
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Southern Doji – Double bottom chart pattern – – – – – – – –