EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline downwards
A bearish descent downwards to the next support at 1.49854 is likely expected.
Caution: A possible change in the direction of the resistance line at 1.50501 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Outside Down’ candle pattern is existing. The candles form ‘Three Outside Down’. 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 probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.50241 |
| Next Low | 1.49854 |
| 2nd Low | 1.49090 |
| 3rd Low | 1.48752 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Outside Down