EUR/CAD – 1H – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.467275 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 1.48587 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49263 |
| 2nd High | 1.48896 |
| Next High | 1.48587 |
| Current Price | 1.47504 |
| Next Low | 1.47177 |
| 2nd Low | 1.44868 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows