EUR/CAD – 30M – SELL

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

A descent downwards to the next support line at 1.61257 is expected.

Caution: A possible trend reversal in the direction of the resistance level at 1.61757 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative signal. The pair is likely to go down.

Next a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which could be a negative chart signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 1.6143141 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 1.61757 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Southern Doji’ candlestick pattern is detected. The chart forms ‘Southern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).

1.61687 – 1.61681 – 1.61757 – 1.61257 – 1.61455 – 1.61695 —
1.61715 – 1.61787 —
62.230620065327 – 63.659355540942 —
– —
1.61687 – 1782336600

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Southern Doji – – – – – – – – –