EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) moves from the bullish trendline down.
A descending movement downwards to the next support line at 1.48150 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.48465 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Harami’ candlestick pattern is found. The chart forms ‘Bearish Harami’. 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 success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49251 |
| 2nd High | 1.48597 |
| Next High | 1.48465 |
| Current Price | 1.48384 |
| Next Low | 1.48150 |
| 2nd Low | 1.48022 |
| 3rd Low | 1.47911 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Bearish Harami