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 line at 1.59283 will persist.

Caution: A possible reversal of the trend in the direction of resistance at 1.60342 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘StochRSI fall below 80’ indicator layout is found. The indicator shows ‘StochRSI fall below 80’. which could be a negative chart scenario. The currency pair is likely to fall.

There is also a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. this is usually a bearish chart signal. The pair is likely to go down.

There is also a ‘Collapsing Doji Star’ chart pattern is discovered. The candles form ‘Collapsing Doji Star’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Collapsing Doji Star’ heading down is 63% (Bull Market).

1.60342 – 1.60486 – 1.60428 – 1.59283 – 1.60261 – 1.60168 — 56.899026025821 – 50.91135926601

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star – – –