EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.59283 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.60342 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.
Next a ‘Collapsing Doji Star’ candle chart pattern is existing. The candles form ‘Collapsing Doji Star’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Collapsing Doji Star’ heading down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61086 |
| 2nd High | 1.60486 |
| Next High | 1.60342 |
| Current Price | 1.60147 |
| Next Low | 1.59283 |
| 2nd Low | 1.59114 |
| 3rd Low | 1.58741 |
1.60342 – 1.60486 – 1.60428 – 1.59283 – 1.60261 – 1.60168
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star –