EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support at 1.59283 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 1.60342 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. this is usually a bearish chart signal. The currency pair is likely to fall.
Besides a ‘Collapsing Doji Star’ candlestick pattern is detected. The candles form ‘Collapsing Doji Star’. which is a bearish pattern signal. The 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 — 56.899026025821 – 50.91135926601 — 8.7184587184587 – 8.7184587184587 – 17.680939120939 – 11.585441233441
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star – – –