EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 1.59283 is expected.
Caution: A possible change in the direction of resistance at 1.60342 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which is often a bearish signal. The currency pair could go down.
Besides a ‘Collapsing Doji Star’ candle chart pattern is found. The candles form ‘Collapsing Doji Star’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 – Triple top chart pattern