EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support line at 1.59283 is certain.

Caution: A possible change in the direction of the resistance zone at 1.60342 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘StochRSI fall below 80’ indicator signal is detected. The indicator shows ‘StochRSI fall below 80’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Besides a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Besides a ‘Collapsing Doji Star’ candlestick chart pattern is detected. The candles form ‘Collapsing Doji Star’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘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 – – –