EUR/CAD – 4H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A bearish trend downwards to the next support level at 1.47224 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 1.50501 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish SBS White Lines’ chart pattern is found. The chart shows ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.47843 |
| Next Low | 1.47224 |
| 2nd Low | 1.44868 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish SBS White Lines