EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.59283 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.60342 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair could go down.
Moreover a ‘Collapsing Doji Star’ candle pattern is detected. The candles form ‘Collapsing Doji Star’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘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 — 56.899026025821 – 50.91135926601
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star – –