EUR/CAD – 30M – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.47687 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.48597 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Harami’ candle pattern is existing. The candles form ‘Bearish Harami’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49400 |
| 2nd High | 1.49251 |
| Next High | 1.48597 |
| Current Price | 1.48129 |
| Next Low | 1.47687 |
| 2nd Low | 1.47595 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Harami