EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 1.61126 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.61823 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘%K crosses below %D’ indicator signal is detected. The indicator is ‘%K crosses below %D’. this is usually a bearish chart scenario. The pair is likely to go down.
Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 1.61126 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.61823 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61874 |
| 2nd High | 1.61853 |
| Next High | 1.61823 |
| Current Price | 1.61238 |
| Next Low | 1.61126 |
| 2nd Low | 1.61046 |
| 3rd Low | 1.60743 |
1.61823 – 1.6174 – 1.61853 – 1.61126 – 1.61568 – 1.61408 —
1.61261 – 1.61368 —
33.827676852601 – 41.592316165602 —
– —
1.61823 – 1768476600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – – – – – – – – –