EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 1.60627 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.61288 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘MACD crosses above signal’ indicator signal is existing. The indicator shows ‘MACD crosses above signal’. this is usually a bullish signal. The currency pair could go up.
Furthermore a ‘Tweezers Top’ chart pattern is detected. The chart forms ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61701 |
| 2nd High | 1.61566 |
| Next High | 1.61288 |
| Current Price | 1.60871 |
| Next Low | 1.60627 |
| 2nd Low | 1.60602 |
| 3rd Low | 1.60129 |
1.61288 – 1.61566 – 1.61453 – 1.61261 – 1.61229 – 1.61295 —
1.61258 – 1.60891 —
49.815865208708 – 44.54965972559 —
– —
1.61288 – 1772233200
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – – – – – – – – –