EUR/CAD – 1H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.
A bearish trend down to the next support line at 1.47595 will continue.
Caution: A possible change in the direction of the resistance line at 1.49362 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Evening Star’ candle pattern is existing. The chart forms ‘Evening Star’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50378 |
| 2nd High | 1.49791 |
| Next High | 1.49362 |
| Current Price | 1.48690 |
| Next Low | 1.47595 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Evening Star