EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards
A continuation of the downward movement down to the next support line at 1.59283 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.60342 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which could be a negative signal. The pair is likely to go down.
Next a ‘Collapsing Doji Star’ candle pattern is found. The candles show ‘Collapsing Doji Star’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Collapsing Doji Star’ going 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 –