EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards

A bearish trend down to the next support at 1.60796 will persist.

Caution: A possible trend reversal in the direction of the resistance zone at 1.61733 could occur.
Consider stop-loss settings accordingly.

Then a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. this is a bullish chart scenario. 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’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.61733 – 1.61361 – 1.61813 – 1.60796 – 1.60884 – 1.60647 — 49.138190676587 – 46.105897869905 — 47.093291771367 – 39.492915734526 – 39.736784814332 – 41.578464115695

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top retreat up – –