EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A descending movement down to the next support line at 1.48986 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.49600 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle pattern is detected. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. 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 | 1.49660 |
| Next High | 1.49600 |
| Current Price | 1.49615 |
| Next Low | 1.48986 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows