EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A bearish descent downwards to the next support level at 1.49407 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.50115 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50179 |
| Next High | 1.50115 |
| Current Price | 1.49433 |
| Next Low | 1.49407 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows