Sell EUR/CAD – 30M – SELL

The combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support at 1.47422 will persist.

Caution: A possible reversal of the trend in the direction of the resistance line at 1.48563 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Deliberation’ candlestick pattern is detected. The chart shows ‘Deliberation’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Deliberation’ going down is 77% (Bull Market) & 75% (Bear Market).

Support & Resistance Price Range*
3rd High 1.49251
2nd High 1.48597
Next High 1.48563
Current Price 1.47801
Next Low 1.47422
2nd Low 1.47371
3rd Low 1.47226

Download EUR/CAD Signal Image

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