EUR/CAD – 4H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline down.
The bearish trend downwards to the next support level at 1.47911 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.49400 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish SBS White Lines’ candle pattern is existing. The chart forms ‘Bearish SBS White Lines’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50501 |
| Next High | 1.49400 |
| Current Price | 1.48232 |
| Next Low | 1.47911 |
| 2nd Low | 1.47595 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines