EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 1.48022 is expected.
Caution: A possible change in the direction of resistance at 1.48465 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Tweezers Top’ chart pattern is detected. The chart shows ‘Tweezers Top’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49251 |
| 2nd High | 1.48597 |
| Next High | 1.48465 |
| Current Price | 1.48191 |
| Next Low | 1.48022 |
| 2nd Low | 1.47911 |
| 3rd Low | 1.47687 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top