EUR/CAD – 30M – SELLThe combination 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 reversal of the trend in the direction of resistance at 1.60342 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which is often a bearish chart signal. The currency pair could go down.
Besides a ‘Collapsing Doji Star’ candlestick pattern is found. The candles show ‘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’ going 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 –