EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.
A continuation of the downward movement down to the next support at 1.59283 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.60342 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which is often a bearish chart signal. The currency pair could go down.
Besides 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 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 –