EUR/CAD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is likely expected. Current target is 1.49406794 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.49633 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Line Strike – Bearish’ candle pattern is detected. The chart forms ‘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 success rate of a ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49734 |
| Next High | 1.49633 |
| Current Price | 1.49350 |
| Next Low | 1.48347 |
| 2nd Low | 1.48205 |
| 3rd Low | 1.47371 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Line Strike – Bearish