EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.62049 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.62681 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.
And also a ‘Three Black Crows’ chart pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. 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 | |
| 2nd High | |
| Next High | 1.62681 |
| Current Price | 1.62246 |
| Next Low | 1.62049 |
| 2nd Low | 1.6198 |
| 3rd Low | 1.61787 |
1.62681 – 1.62434 – 1.62575 – 1.62049 – 1.6198 – 1.62041 — 54.999915043964 – 44.017114961612 — 71.096787940127 – 37.763454606793 – 75.25183753866 – 65.319578354256
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Rising Wedge Chart Pattern – –