EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline downwards
A bearish descent down to the next support level at 1.48150 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.48428 should always be considered.
Consider stop-loss settings accordingly.
And also a ‘Tweezers Top’ candlestick chart pattern is discovered. The candles form ‘Tweezers Top’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48597 |
| 2nd High | 1.48465 |
| Next High | 1.48428 |
| Current Price | 1.48413 |
| Next Low | 1.48150 |
| 2nd Low | 1.48022 |
| 3rd Low | 1.47911 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top