EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline down.
A continuation of the downward movement down to the next support at 1.62049 is likely expected.
Caution: A possible change in the direction of the resistance zone at 1.62681 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candlestick chart pattern is found. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.62681 |
| Current Price | 1.62285 |
| Next Low | 1.62049 |
| 2nd Low | 1.6198 |
| 3rd Low | 1.61787 |
1.62681 – 1.62434 – 1.62575 – 1.62049 – 1.6198 – 1.62041 — 53.139770563399 – 50.469126610638 — 46.741188912664 – 44.175951203915 – 42.601064135042 – 44.523557719898
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Triple top chart pattern – –