EUR/CAD – 1H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support at 1.47492 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 1.48246 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Falling Window’ chart pattern is detected. The chart shows ‘Falling Window’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.48246 |
| Current Price | 1.47842 |
| Next Low | 1.47492 |
| 2nd Low | 1.47177 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Falling Window