EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline downwards
A continuation of the downward movement downwards to the next support level at 1.59283 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 1.60342 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Besides a ‘Collapsing Doji Star’ chart pattern is detected. The chart shows ‘Collapsing Doji Star’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 –