EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
The bearish trend down to the next support at 1.61434 is expected.
Caution: A possible counter-trend in the direction of resistance at 1.62146 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candle chart pattern is found. The candles form ‘Three Black 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 likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63174 |
| 2nd High | 1.62714 |
| Next High | 1.62146 |
| Current Price | 1.61855 |
| Next Low | 1.61434 |
| 2nd Low | 1.61185 |
| 3rd Low | 1.61046 |
1.61728 – 1.62103 – 1.61666 – 1.61434 – 1.6146 – 1.61185 —
1.62150 – 1.62124 —
69.647282473537 – 56.760080332984 —
– —
1.61728 – 1767934800
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows – Double top chart pattern – – – – – – – –