EUR/CAD – 1H – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 1.4848 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 1.49734 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49996 |
| 2nd High | 1.49907 |
| Next High | 1.49734 |
| Current Price | 1.49069 |
| Next Low | 1.48730 |
| 2nd Low | 1.47371 |
| 3rd Low | 1.47226 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows