EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support level at is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.59602 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The currency pair is likely to fall.
Moreover a ‘Two Crows’ chart pattern is detected. The chart shows ‘Two Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.59602 |
| Current Price | 1.57134 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.59602 – 1.58012 – 1.58520 – 1.58562 – 1.56944 – 1.56714