EUR/CAD – 30M – SELLThe currency pair 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 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.60342 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair could go down.
Moreover a ‘Collapsing Doji Star’ candlestick chart pattern is discovered. The candles form ‘Collapsing Doji Star’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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 –