EUR/CAD – 30M – SELL

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

A continuation of the downtrend downwards to the next support level at 1.59283 will persist.

Caution: A possible trend reversal in the direction of the resistance level at 1.60342 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘StochRSI fall below 80’ indicator layout is detected. The indicator is ‘StochRSI fall below 80’. which is often a bearish chart signal. The currency pair could go down.

In addition a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.

In addition a ‘Collapsing Doji Star’ chart pattern is detected. The candles form ‘Collapsing Doji Star’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 – – –