EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 1.59283 will persist.
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 detected. The indicator is ‘Support Level’. this is usually a bearish chart scenario. The pair is likely to go down.
Moreover a ‘Collapsing Doji Star’ candle chart pattern is found. The chart forms ‘Collapsing Doji Star’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 –