EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A descending movement downwards to the next support line at 1.49242 is likely expected.
Caution: A possible change in the direction of the resistance line at 1.49943 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ chart pattern is discovered. The candles show ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50179 |
| 2nd High | 1.50115 |
| Next High | 1.49943 |
| Current Price | 1.49317 |
| Next Low | 1.49242 |
| 2nd Low | 1.49102 |
| 3rd Low | 1.48752 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows