EUR/CAD – 1H – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.48479 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 1.49734 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Outside Down’ candle pattern is detected. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49996 |
| 2nd High | 1.49907 |
| Next High | 1.49734 |
| Current Price | 1.49023 |
| Next Low | 1.48986 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down