EUR/CAD – 1H – SELLThe currency pair jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 1.47783 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.48440 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49263 |
| Next High | 1.48440 |
| Current Price | 1.48101 |
| Next Low | 1.47783 |
| 2nd Low | |
| 3rd Low |