EUR/CAD – 1H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A bearish descent downwards to the next support level at 1.47492 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.48587 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Line Strike – Bearish’ candlestick chart pattern is found. The candles form ‘Three Line Strike – Bearish’. 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 probability 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 | 1.47825 |
| Next Low | 1.47492 |
| 2nd Low | 1.47177 |
| 3rd Low | 1.44868 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Line Strike – Bearish