EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A bearish movement downwards to the next support line at 1.49301 is expected.
Caution: A possible trend reversal in the direction of resistance at 1.49907 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candle pattern is detected. The candles show ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. 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 | 1.51400 |
| 2nd High | 1.49996 |
| Next High | 1.49907 |
| Current Price | 1.50071 |
| Next Low | 1.49301 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows