EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support at 1.47226 is likely expected.
Caution: A possible change in the direction of the resistance zone at 1.48016 could occur.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48587 |
| 2nd High | 1.48246 |
| Next High | 1.48016 |
| Current Price | 1.47452 |
| Next Low | 1.47226 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.47177 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows