EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A bearish movement downwards to the next support line at 1.48752 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.50059 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish SBS White Lines’ candle chart pattern is discovered. The candles form ‘Bearish SBS White Lines’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50179 |
| Next High | 1.50059 |
| Current Price | 1.49523 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines