EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards
A continuation of the downtrend down to the next support at 1.47883 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 1.49362 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.48714 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.49362 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candle chart pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49362 |
| Current Price | 1.48156 |
| Next Low | 1.47883 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows