EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline down.
A descending movement down to the next support at 1.57556 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 1.59319 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candlestick chart pattern is existing. The candles form ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.59319 |
| Current Price | 1.59201 |
| Next Low | 1.57556 |
| 2nd Low | 1.57245 |
| 3rd Low | 1.56944 |
1.59153 – 1.57990 – 1.58012 – 1.57556 – 1.57245 – 1.56944
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows