EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline down.
A bearish trend downwards to the next support level at 1.60627 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 1.61355 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 1.61177292 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 1.61355 could occur.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61791 |
| 2nd High | 1.61783 |
| Next High | 1.61355 |
| Current Price | 1.61335 |
| Next Low | 1.60627 |
| 2nd Low | 1.60602 |
| 3rd Low | 1.60262 |
1.61308 – 1.61294 – 1.61242 – 1.60627 – 1.60717 – 1.60602 —
1.61153 – 1.61426 —
58.212806860041 – 65.048042223704 —
– —
1.61308 – 1767376800
Trading Signals: FOREX – EUR – EUR/CAD – CAD – – Double top retreat up – – – – – – – –