EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.
A bearish trend down to the next support line at 1.49301 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.49925 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish SBS White Lines’ chart pattern is detected. The chart forms ‘Bearish SBS White Lines’. 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 chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51400 |
| 2nd High | 1.49996 |
| Next High | 1.49925 |
| Current Price | 1.49754 |
| Next Low | 1.49301 |
| 2nd Low | 1.49205 |
| 3rd Low | 1.48758 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines