EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support level at 1.47653 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.48896 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49263 |
| Next High | 1.48896 |
| Current Price | 1.47709 |
| Next Low | 1.47653 |
| 2nd Low | 1.47110 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows