EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.

A continuation of the downward movement down to the next support level at 1.59283 is likely expected.

Caution: A possible change in the direction of resistance at 1.60342 should be noted.
Consider stop-loss settings accordingly.

And also a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. this is usually a bearish chart signal. The pair is likely to go down.

And also a ‘Collapsing Doji Star’ candlestick pattern is detected. The candles show ‘Collapsing Doji Star’. this is a bearish 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).

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 – – –