EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 1.60854 is certain.
Caution: A possible trend reversal in the direction of resistance at 1.61434 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish chart signal. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 1.60811 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 1.61434 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ candlestick chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62247 |
| 2nd High | 1.62035 |
| Next High | 1.61434 |
| Current Price | 1.61051 |
| Next Low | 1.60854 |
| 2nd Low | 1.60811 |
| 3rd Low | 1.60796 |
1.61434 – 1.61386 – 1.62035 – 1.60854 – 1.60811 – 1.61813 — 49.045493419559 – 45.236569489991 — 79.101438207967 – 74.440626193203 – 63.606690819148 – 74.037870885795
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Rising Wedge Chart Pattern – –