EUR/CAD – 30M – SELLIn addition a ‘Inverse Head and Shoulder chart pattern’ chart layout is found. The chart shows ‘Inverse Head and Shoulder chart pattern’. this is a bullish pattern signal. The currency pair is likely to rise.
The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline down.
The bearish trend downwards to the next support line at 1.61154 is expected.
Caution: A possible change in the direction of the resistance level at 1.62247 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Northern Doji’ candlestick chart pattern is detected. The chart shows ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.62247 |
| Current Price | 1.62014 |
| Next Low | 1.61154 |
| 2nd Low | 1.60796 |
| 3rd Low | 1.60647 |
1.62247 – 1.61528 – 1.61838 – 1.61154 – 1.61242 – 1.61342 — 66.193709270656 – 59.525684717281 — 8.3784434651418 – 3.9219609804903 – 8.3561814103043 – 6.2784181906771
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Inverse Head and Shoulder chart pattern – –