EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline downwards
The bearish trend downwards to the next support at 1.49108 will persist.
Caution: A possible change in the direction of the resistance zone at 1.50378 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Belt Hold’ candlestick pattern is found. The chart forms ‘Bearish Belt Hold’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50501 |
| Next High | 1.50378 |
| Current Price | 1.49181 |
| Next Low | 1.49108 |
| 2nd Low | 1.49090 |
| 3rd Low | 1.48752 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Belt Hold