EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.59283 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 1.60342 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. this is usually a bearish signal. The currency pair could go down.
Additionally a ‘Collapsing Doji Star’ candlestick pattern is existing. The chart shows ‘Collapsing Doji Star’. which is a negative 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’ 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 – –