EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline downwards
A bearish movement down to the next support level at 1.62339 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.62624 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Tweezers Top’ candle pattern is detected. The candles show ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64666 |
| 2nd High | 1.63936 |
| Next High | 1.62624 |
| Current Price | 1.62605 |
| Next Low | 1.62339 |
| 2nd Low | 1.62241 |
| 3rd Low | 1.62034 |
1.62624 – 1.62567 – 1.62432 – 1.62339 – 1.62241 – 1.62034 —
1.62412 – 1.62651 —
41.045075616903 – 60.94912513167 —
– —
1.62624 – 1781690400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – Rising Wedge Chart Pattern – – – – – – – –