EUR/CAD – 30M – SELLAlso there is a ‘Rising Wedge Chart Pattern’ chart pattern is found. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The currency pair is likely to go down.
The currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A bearish descent downwards to the next support line at 1.60930 is certain.
Caution: A possible change in the direction of the resistance line at 1.61434 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candlestick chart pattern is detected. The candles form ‘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 success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62247 |
| 2nd High | 1.62035 |
| Next High | 1.61434 |
| Current Price | 1.60896 |
| Next Low | 1.60930 |
| 2nd Low | 1.60854 |
| 3rd Low | 1.60811 |
1.61434 – 1.61386 – 1.62035 – 1.60930 – 1.60854 – 1.60811 — 39.844816845604 – 36.209200566293 — 20.46204620462 – 10.943199583116 – 28.026750043425 – 19.065678497674
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Rising Wedge Chart Pattern – –