EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 1.60334 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.60526 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘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 probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61155 |
| 2nd High | 1.60717 |
| Next High | 1.60526 |
| Current Price | 1.60362 |
| Next Low | 1.60334 |
| 2nd Low | 1.60272 |
| 3rd Low | 1.60135 |
1.60526 – 1.60717 – 1.61155 – 1.60334 – 1.60272 – 1.60930 — 49.419919954446 – 42.605479028271 — 37.404535819032 – 44.966170107733 – 27.877960720543 – 35.106619817832
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – – –