EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.

A continuation of the downtrend down to the next support level at 1.61963 is likely expected.

Caution: A possible change in the direction of the resistance zone at 1.62212 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Northern Doji’ chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.62212 – 1.62213 – 1.63127 – 1.6209 – 1.62557 – 1.62749 —
1.62106 – 1.62089 —
41.06977940483 – 46.910927063187 —
– —
1.62212 – 1762790400

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double top retreat up – – –