EUR/CAD – 1H – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.

A descending movement downwards to the next support level at 1.60647 will continue.

Caution: A possible change in the direction of the resistance line at 1.61813 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.

Besides a ‘Northern Doji’ candle pattern is discovered. The candles show ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.61813 – 1.61118 – 1.61230 – 1.60647 – 1.59283 – 1.60168 — 39.955455254968 – 34.376186206152 — 31.698660874507 – 28.664614302158 – 27.029170317517 – 27.509496166772

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –