EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards

A continuation of the downward movement downwards to the next support level at 1.61432 will persist.

Caution: A possible trend reversal in the direction of resistance at 1.62623 could occur.
Consider stop-loss settings accordingly.

Moreover a ‘%K crosses below %D’ indicator layout is found. The indicator is ‘%K crosses below %D’. which is often a bearish chart signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.61319 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 1.62623 could occur.
Consider stop-loss settings accordingly.

Moreover a ‘Northern Doji’ candle pattern is found. The chart forms ‘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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.62623 – 1.61653 – 1.6168 – 1.61432 – 1.62002 – 1.61319 —
1.61716 – 1.61609 —
43.276216071956 – 39.793014714911 —
– —
1.62623 – 1768923000

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Inverse Head and Shoulder chart pattern – – – – – – – –