EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 1.59283 is likely expected.
Caution: A possible change 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 found. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair could go down.
Moreover a ‘Collapsing Doji Star’ chart pattern is found. The chart forms ‘Collapsing Doji Star’. this 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 – –