EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.47911 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 1.48443 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Tweezers Top’ candle pattern is existing. The candles show ‘Tweezers Top’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49251 |
| 2nd High | 1.48597 |
| Next High | 1.48443 |
| Current Price | 1.48273 |
| Next Low | 1.47911 |
| 2nd Low | 1.47687 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top