EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 1.59283 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.60342 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.
Moreover a ‘Collapsing Doji Star’ candlestick chart pattern is discovered. The chart forms ‘Collapsing Doji Star’. which is a negative chart scenario. The 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 –