EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 1.59283 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.60342 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair could go down.
Moreover a ‘Collapsing Doji Star’ candlestick pattern is existing. The chart shows ‘Collapsing Doji Star’. which 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 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 – Inverse Head and Shoulder chart pattern