EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline downwards
A descending movement downwards to the next support at 1.48752 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 1.50378 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Harami’ candlestick chart pattern is discovered. The candles form ‘Bearish Harami’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50501 |
| Next High | 1.50378 |
| Current Price | 1.48898 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Harami