EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.
A bearish trend downwards to the next support line at 1.48319 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 1.48597 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candle chart pattern is detected. The chart forms ‘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 probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49400 |
| 2nd High | 1.49251 |
| Next High | 1.48597 |
| Current Price | 1.48356 |
| Next Low | 1.48319 |
| 2nd Low | 1.47687 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows