Sell EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support at 1.56074 is certain.

Caution: A possible change in the direction of the resistance zone at 1.56899 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Collapsing Doji Star’ chart pattern is found. The candles form ‘Collapsing Doji Star’. this is a bearish 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’ going down is 63% (Bull Market).

Additionally a ‘Double top chart pattern’ chart formation is existing. The chart picture forms ‘Double top chart pattern’. which is a bearish pattern signal. The currency pair is likely to fall.

Support & Resistance Price Range*
3rd High 1.57532
2nd High 1.57524
Next High 1.56899
Current Price 1.56044
Next Low 1.56074
2nd Low 1.55757
3rd Low 1.55756

1.56899 – 1.56473 – 1.56580 – 1.56074 – 1.55757 – 1.55756

Download EUR/CAD Signal Image

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