EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline down.
A bearish trend down to the next support line at 1.61185 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.61783 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Two Crows’ chart pattern is found. The candles show ‘Two Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61895 |
| 2nd High | 1.61791 |
| Next High | 1.61783 |
| Current Price | 1.61769 |
| Next Low | 1.61185 |
| 2nd Low | 1.61046 |
| 3rd Low | 1.60743 |
1.61666 – 1.61535 – 1.61426 – 1.61185 – 1.61046 – 1.60743 —
1.61652 – 1.61837 —
63.471604133834 – 70.545676136989 —
– —
1.61666 – 1767758400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Two Crows – Head and Shoulder chart pattern – – – – – – – –