EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 1.59283 is expected.
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 ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. which could be a negative signal. The pair is likely to go down.
Besides a ‘Collapsing Doji Star’ candlestick chart pattern is found. The chart shows ‘Collapsing Doji Star’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Collapsing Doji Star’ going down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61086 |
| 2nd High | 1.60486 |
| Next High | 1.60342 |
| Current Price | 1.60147 |
| Next Low | 1.59283 |
| 2nd Low | 1.59114 |
| 3rd Low | 1.58741 |
1.60342 – 1.60486 – 1.60428 – 1.59283 – 1.60261 – 1.60168 — 56.899026025821 – 50.91135926601 — 8.7184587184587 – 8.7184587184587 – 17.680939120939 – 11.585441233441
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Collapsing Doji Star – – –