EUR/CAD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.609835 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 1.61326 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Tweezers Top’ candle pattern is existing. The chart shows ‘Tweezers Top’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.61831 |
| 2nd High | 1.61487 |
| Next High | 1.61326 |
| Current Price | 1.61143 |
| Next Low | 1.60789 |
| 2nd Low | 1.60713 |
| 3rd Low | 1.60641 |
1.6102 – 1.61326 – 1.61198 – 1.60789 – 1.60713 – 1.60641 —
1.60984 – 1.61169 —
48.468250638395 – 62.591471714 —
– —
1.6102 – 1780473600
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Tweezers Top – Rising Wedge Chart Pattern – – – – – – – –