EUR/CAD – 30M – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.
A bearish descent down to the next support line at 1.47883 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.48582 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Line Strike – Bearish’ candlestick pattern is found. The candles form ‘Three Line Strike – Bearish’. 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 likelyhood of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.48896 |
| 2nd High | 1.48587 |
| Next High | 1.48582 |
| Current Price | 1.48351 |
| Next Low | 1.47883 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Line Strike – Bearish