EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support at 1.59283 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.60342 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.
Additionally a ‘Collapsing Doji Star’ candlestick pattern is detected. The candles form ‘Collapsing Doji Star’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 – Inverse Head and Shoulder chart pattern