EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 1.59283 will persist.
Caution: A possible change in the direction of the resistance zone at 1.60342 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish signal. The currency pair could go down.
And also a ‘Collapsing Doji Star’ candle pattern is detected. The candles show ‘Collapsing Doji Star’. which is a bearish pattern signal. The currency 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 –