EUR/CAD – 30M – SELL

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

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

Caution: A possible reversal of the trend in the direction of the resistance line at 1.60342 could occur.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. which is often a bearish signal. The currency pair could go down.

There is also a ‘Collapsing Doji Star’ candle pattern is detected. 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’ going down is 63% (Bull Market).

1.60342 – 1.60486 – 1.60428 – 1.59283 – 1.60261 – 1.60168

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