EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards
A descent down to the next support level at 1.47492 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.48587 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Line Strike – Bearish’ candlestick pattern is discovered. The candles form ‘Three Line Strike – Bearish’. 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 likelyhood of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49263 |
| 2nd High | 1.48896 |
| Next High | 1.48587 |
| Current Price | 1.47782 |
| Next Low | 1.47492 |
| 2nd Low | 1.47177 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Line Strike – Bearish