EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline down.
A continuation of the downtrend down to the next support line at 1.59283 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.60342 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which could be a negative signal. The currency pair could go down.
And also a ‘Collapsing Doji Star’ chart pattern is discovered. The candles show ‘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 –