EUR/CAD – 30M – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards

A continuation of the downtrend downwards to the next support line at 1.59283 is certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.60342 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘StochRSI fall below 80’ indicator layout is detected. The indicator is ‘StochRSI fall below 80’. which is often a bearish chart scenario. The pair is likely to go down.

Furthermore a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. this is usually a bearish signal. The currency pair is likely to fall.

Furthermore a ‘Collapsing Doji Star’ candle pattern is found. The candles show ‘Collapsing Doji Star’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ heading down is 63% (Bull Market).

1.60342 – 1.60486 – 1.60428 – 1.59283 – 1.60261 – 1.60168 — 56.899026025821 – 50.91135926601

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