EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards

A continuation of the downtrend down to the next support level at 1.59283 will persist.

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

In addition a ‘%K crosses below %D’ indicator signal is detected. The indicator is ‘%K crosses below %D’. this is usually a bearish chart signal. The currency pair is likely to fall.

In addition a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which could be a negative signal. The currency pair could go down.

In addition a ‘Collapsing Doji Star’ candle chart pattern is detected. The chart forms ‘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 — 8.7184587184587 – 8.7184587184587 – 17.680939120939 – 11.585441233441

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