EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) moves from the descending trendline down.
A continuation of the downward movement down to the next support line at 1.47226 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.47984 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ candlestick chart pattern is found. 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48188 |
| 2nd High | 1.48016 |
| Next High | 1.47984 |
| 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