EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) goes from the bullish trendline down.
A bearish descent downwards to the next support level at 1.47492 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.47942 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Line Strike – Bearish’ chart pattern is found. The candles form ‘Three Line Strike – Bearish’. which is a bearish pattern signal. The 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 | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.47942 |
| Current Price | 1.47889 |
| Next Low | 1.47492 |
| 2nd Low | 1.47177 |
| 3rd Low | 1.45943 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Line Strike – Bearish