EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.
A descending movement down to the next support line at 1.48752 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 1.50059 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick pattern is found. The candles show ‘Three Black Crows’. this is a bearish chart scenario. 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 | 1.50590 |
| 2nd High | 1.50179 |
| Next High | 1.50059 |
| Current Price | 1.49592 |
| Next Low | 1.48752 |
| 2nd Low | 1.48347 |
| 3rd Low | 1.48205 |
Trading Signals: FOREX – EUR – EUR/CAD – CAD – Three Black Crows