EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 1.48022 will persist.
Caution: A possible change in the direction of the resistance zone at 1.48465 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49400 |
| 2nd High | 1.49251 |
| Next High | 1.48465 |
| Current Price | 1.48249 |
| Next Low | 1.48022 |
| 2nd Low | 1.47911 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows