EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A bearish trend down to the next support at 1.61046 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.61535 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘MACD crosses below signal’ indicator layout is discovered. The indicator shows ‘MACD crosses below signal’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Then a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.
Then a ‘Three Outside Down’ candlestick chart pattern is existing. The chart shows ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61791 |
| 2nd High | 1.61783 |
| Next High | 1.61535 |
| Current Price | 1.61449 |
| Next Low | 1.61046 |
| 2nd Low | 1.60627 |
| 3rd Low | 1.60602 |
1.61535 – 1.61308 – 1.61294 – 1.61046 – 1.60627 – 1.60717 —
1.61473 – 1.61592 —
59.663607002632 – 59.614174928624 —
– —
1.61535 – 1767675600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down – Double bottom retreat down – – – – – – – –