EUR/CAD – 1H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline downwards
A bearish movement downwards to the next support line at 1.47371 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.48587 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative pattern signal. 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 | 1.49263 |
| 2nd High | 1.48896 |
| Next High | 1.48587 |
| Current Price | 1.48381 |
| Next Low | 1.47371 |
| 2nd Low | 1.47226 |
| 3rd Low | 1.47224 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows