EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A descent downwards to the next support level at 1.48022 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.48465 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Harami’ chart pattern is discovered. The chart shows ‘Bearish Harami’. which is a negative signal. The currency pair is likely to fall. 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 | 1.48465 |
| Current Price | 1.48421 |
| Next Low | 1.48022 |
| 2nd Low | 1.47911 |
| 3rd Low | 1.47595 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Harami