EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish descent down to the next support level at 1.47371 is likely expected.
Caution: A possible change in the direction of the resistance zone at 1.49907 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Black Crows’ candlestick chart pattern is detected. The candles show ‘Three Black Crows’. this is a bearish chart scenario. The currency 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51400 |
| 2nd High | 1.49996 |
| Next High | 1.49907 |
| Current Price | 1.49328 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows