EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish descent down to the next support line at 1.6146 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.62103 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The currency pair could go down.
Next a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair could go down.
Next a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. which is a positive chart scenario. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62714 |
| 2nd High | 1.62146 |
| Next High | 1.62103 |
| Current Price | 1.61591 |
| Next Low | 1.6146 |
| 2nd Low | 1.61185 |
| 3rd Low | 1.61046 |
1.62103 – 1.61666 – 1.61535 – 1.6146 – 1.61479 – 1.61185 —
1.61638 – 1.61633 —
43.400060368339 – 47.401149878844 —
– —
1.62103 – 1767873600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Double bottom chart pattern – – – – – – – –