EUR/CAD – 30M – SELL

The pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards

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

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

Besides a ‘StochRSI fall below 80’ indicator signal is existing. The indicator shows ‘StochRSI fall below 80’. which could be a negative chart scenario. The currency pair is likely to fall.

Besides a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Besides a ‘Collapsing Doji Star’ chart pattern is found. The chart shows ‘Collapsing Doji Star’. which is a bearish pattern signal. 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 — 29.02 – 0

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star – – –