EUR/CAD – 1H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 1.48022 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.48465 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Tweezers Top’ candlestick chart pattern is detected. The candles show ‘Tweezers Top’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49400 |
| 2nd High | 1.49251 |
| Next High | 1.48465 |
| Current Price | 1.48413 |
| Next Low | 1.48022 |
| 2nd Low | 1.47911 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top