EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A descending movement down to the next support at 1.48347 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.50179 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ candle chart pattern is found. The candles form ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51400 |
| 2nd High | 1.50590 |
| Next High | 1.50179 |
| Current Price | 1.48784 |
| Next Low | 1.48347 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows