EUR/CAD – 1H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards
A descent downwards to the next support at 1.49301 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 1.50590 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Line Strike – Bearish’ candlestick pattern is existing. The chart forms ‘Three Line Strike – Bearish’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51696 |
| 2nd High | 1.51400 |
| Next High | 1.50590 |
| Current Price | 1.49593 |
| Next Low | 1.49301 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Line Strike – Bearish