EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A descending movement downwards to the next support level at 1.47833 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.48587 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Black Crows’ chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49263 |
| 2nd High | 1.48896 |
| Next High | 1.48587 |
| Current Price | 1.47878 |
| Next Low | 1.47833 |
| 2nd Low | 1.47177 |
| 3rd Low | 1.45943 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows