EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline down.

A continuation of the downward movement down to the next support line at 1.59283 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.60342 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a negative chart scenario. The currency pair could go down.

And also a ‘Collapsing Doji Star’ candle pattern is found. The chart shows ‘Collapsing Doji Star’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ going down is 63% (Bull Market).

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 – –