EUR/CAD – 30M – SELL

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

A continuation of the bearish trend down to the next support at 1.59283 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 1.60342 could occur.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘StochRSI fall below 80’ indicator layout is discovered. The indicator is ‘StochRSI fall below 80’. which is often a bearish chart scenario. The currency pair could go down.

There is also a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which could be a negative signal. The pair is likely to go down.

There is also a ‘Collapsing Doji Star’ candle pattern is existing. The candles form ‘Collapsing Doji Star’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Collapsing Doji Star’ heading 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 – – –