EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support level at 1.47750 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.48221 could occur.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle chart pattern is detected. The candles form ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.48221 |
| Current Price | 1.47724 |
| Next Low | 1.47750 |
| 2nd Low | 1.47492 |
| 3rd Low | 1.47177 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows