EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards
A bearish movement downwards to the next support at 1.62744 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 1.63173 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Top’ candlestick chart pattern is discovered. The candles show ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63176 |
| 2nd High | 1.63174 |
| Next High | 1.63173 |
| Current Price | 1.63035 |
| Next Low | 1.62744 |
| 2nd Low | 1.62716 |
| 3rd Low | 1.62036 |
1.63173 – 1.62984 – 1.62918 – 1.62744 – 1.62716 – 1.62036 —
1.62852 – 1.63342 —
41.555842016713 – 63.545893879514 —
1.62744 – 1769509800 —
1.63173 – 1769502600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – Double top chart pattern – – – – – – – –