EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support at will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.60819 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The currency pair is likely to fall.
Next a ‘Northern Doji’ candlestick pattern is existing. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62247 |
| 2nd High | 1.61434 |
| Next High | 1.60819 |
| Current Price | 1.60619 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.60819 – 1.61434 – 1.62247 – 1.60262 – 1.60272 – 1.60854 — 54.745354379107 – 47.317543077075 — 78.502228717395 – 89.716931052718 – 58.94368894387 – 77.544979710012
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom retreat down – –