EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline down.

A continuation of the downward movement downwards to the next support at 1.59283 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.60342 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair could go down.

There is also a ‘Collapsing Doji Star’ candle chart pattern is discovered. The candles form ‘Collapsing Doji Star’. this 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).

1.60342 – 1.60486 – 1.60428 – 1.59283 – 1.60261 – 1.60168

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star –