EUR/CAD – 1H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A bearish trend downwards to the next support at 1.48319 is certain.
Caution: A possible change in the direction of the resistance zone at 1.49400 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Southern Doji’ candlestick pattern is detected. The chart forms ‘Southern 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 probability of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49400 |
| Current Price | 1.48696 |
| Next Low | 1.48319 |
| 2nd Low | 1.47595 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Southern Doji