EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline down.

A continuation of the downtrend downwards to the next support level at 1.59283 is likely expected.

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

Furthermore a ‘StochRSI fall below 80’ indicator signal is discovered. The indicator is ‘StochRSI fall below 80’. which could be a negative chart scenario. The currency pair is likely to fall.

Furthermore a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Furthermore a ‘Collapsing Doji Star’ candlestick chart pattern is existing. The candles form ‘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 probability 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 — 29.02 – 0

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