EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A descending movement downwards to the next support level at 1.49090 is expected.
Caution: A possible counter-trend in the direction of resistance at 1.50115 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candlestick chart pattern is detected. The chart forms ‘Three Black Crows’. 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 ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50179 |
| Next High | 1.50115 |
| Current Price | 1.49984 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48347 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows