EUR/CAD – 4H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A bearish descent downwards to the next support level at 1.48205 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 1.51696 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.51696 |
| Current Price | 1.50079 |
| Next Low | 1.48205 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows