EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.
A bearish trend downwards to the next support line at 1.49102 is certain.
Caution: A possible change in the direction of the resistance level at 1.50179 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Evening Star’ chart pattern is detected. The candles form ‘Evening Star’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50308 |
| Next High | 1.50179 |
| Current Price | 1.49408 |
| Next Low | 1.49102 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Evening Star