EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.
A continuation of the downward movement down to the next support line at 1.59283 is considered certain.
Caution: A possible change in the direction of resistance at 1.60342 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair is likely to fall.
Next a ‘Collapsing Doji Star’ candlestick pattern is discovered. The chart forms ‘Collapsing Doji Star’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘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 –