EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the downtrend down to the next support level at 1.59283 is certain.
Caution: A possible change in the direction of the resistance level at 1.60342 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a negative chart signal. The pair is likely to go down.
In addition a ‘Collapsing Doji Star’ candlestick chart pattern is found. The candles show ‘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 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 — 56.899026025821 – 50.91135926601
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star – –