EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support line at 1.47653 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.48896 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Black Crows’ candlestick pattern is detected. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49263 |
| Next High | 1.48896 |
| Current Price | 1.47779 |
| Next Low | 1.47653 |
| 2nd Low | 1.47110 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows