EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
A descending movement downwards to the next support at 1.60129 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.60922 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.60734852 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.60922 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Two Crows’ candle chart pattern is found. The chart shows ‘Two Crows’. which is a negative 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’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61434 |
| 2nd High | 1.61155 |
| Next High | 1.60922 |
| Current Price | 1.60788 |
| Next Low | 1.60129 |
| 2nd Low | 1.59283 |
| 3rd Low | 1.59114 |
1.60922 – 1.60819 – 1.60526 – 1.60129 – 1.60287 – 1.60262 — 58.231604896905 – 55.215202637147 — 97.534737111347 – 92.783256975633 – 96.751339320897 – 96.77266469566
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Two Crows – – –