EUR/CAD – 4H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the ascending trendline down.
A descent down to the next support at 1.48205 is expected.
Caution: A possible change in the direction of the resistance line at 1.51696 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.51696 |
| Current Price | 1.49595 |
| Next Low | 1.48205 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows