EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.
A descent downwards to the next support level at 1.61046 is likely expected.
Caution: A possible change in the direction of resistance at 1.61535 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘MACD crosses below signal’ indicator layout is existing. The indicator shows ‘MACD crosses below signal’. which could be a negative signal. The currency pair could go down.
Moreover a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
Moreover a ‘Two Crows’ candle chart pattern is found. The chart shows ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61791 |
| 2nd High | 1.61783 |
| Next High | 1.61535 |
| Current Price | 1.61464 |
| Next Low | 1.61046 |
| 2nd Low | 1.60743 |
| 3rd Low | 1.60627 |
1.61535 – 1.61426 – 1.61267 – 1.61046 – 1.60743 – 1.60627 —
1.61547 – 1.61617 —
65.034111480807 – 66.660108411556 —
– —
1.61535 – 1767677400
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Two Crows – Rising Wedge Chart Pattern – – – – – – – –