EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A bearish descent downwards to the next support level at 1.48766 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 1.49251 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish SBS White Lines’ candlestick pattern is detected. The chart forms ‘Bearish SBS White Lines’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49791 |
| 2nd High | 1.49400 |
| Next High | 1.49251 |
| Current Price | 1.48873 |
| Next Low | 1.48766 |
| 2nd Low | 1.48358 |
| 3rd Low | 1.48319 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines