EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support at 1.59283 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.60342 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.
Moreover a ‘Collapsing Doji Star’ chart pattern is existing. The chart shows ‘Collapsing Doji Star’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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 — 56.899026025821 – 50.91135926601
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star – Triple top chart pattern –