EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline down.
A descending movement down to the next support at 1.47371 is expected.
Caution: A possible change in the direction of the resistance line at 1.49362 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Concealing Baby Swallow’ candlestick pattern is existing. The chart shows ‘Concealing Baby Swallow’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Concealing Baby Swallow’ heading down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49362 |
| Current Price | 1.47821 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Concealing Baby Swallow