EUR/CAD – 4H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A descent down to the next support level at 1.60602 will continue.
Caution: A possible change in the direction of the resistance line at 1.62103 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘%K crosses below %D’ indicator layout is existing. The indicator is ‘%K crosses below %D’. this is usually a bearish chart scenario. The currency pair could go down.
Next a ‘Tweezers Top’ candle chart pattern is existing. The chart shows ‘Tweezers Top’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63174 |
| 2nd High | 1.62146 |
| Next High | 1.62103 |
| Current Price | 1.62043 |
| Next Low | 1.60602 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.56444 |
1.62103 – 1.61355 – 1.61791 – 1.60602 – 1.61298 – 1.61281 —
1.61728 – 1.62259 —
53.738776487485 – 67.808140580036 —
– —
1.62103 – 1767873600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – – – – – – – – –