EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 1.59283 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.60342 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘%K crosses above %D’ indicator layout is found. The indicator is ‘%K crosses above %D’. which could be a positive chart signal. The pair is likely to go up.
Moreover a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair could go down.
Moreover a ‘Collapsing Doji Star’ candle pattern is discovered. The candles show ‘Collapsing Doji Star’. which is a negative signal. The pair is likely to go down. 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 — 56.899026025821 – 50.91135926601 — 8.7184587184587 – 8.7184587184587 – 17.680939120939 – 11.585441233441
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star – Triple top chart pattern – –